Herbert Stein Quotes

Herbert Stein was an American economist, a senior fellow at the American Enterprise Institute and was on the board of contributors of The Wall Street Journal. He was chairman of the Council of Economic Advisers under Richard Nixon and Gerald Ford. From 1974 until 1984, he was the A. Willis Robertson Professor of Economics at the University of Virginia. Wikipedia  

✵ 27. August 1916 – 8. September 1999
Herbert Stein: 1   quote 0   likes

Herbert Stein Quotes

“If something cannot go on forever, it will stop.”

Congressional testimony in 1976, in reference to a then-current economic trend of rising international trade deficits.
Herb Stein's Unfamiliar Quotations http://www.slate.com/id/2561/
Source: A Symposium on the 40th Anniversary of the Joint Economic Committee, Hearings Before the Joint Economic Committee, Congress of the United States, Ninety-Ninth Congress, First Session; Panel Discussion: The Macroeconomics of Growth, Full Employment, and Price Stability, January 16, 1976, 262, I recently came to a remarkable conclusion which I commend to you and that is that if something cannot go on forever it will stop. So, what we have learned about all these things is that the Federal debt cannot rise forever relative to the GNP. Our foreign debt cannot rise forever relative to the GNP. But, of course, if they can't, they will stop., June 4, 2018 https://babel.hathitrust.org/cgi/pt?id=umn.319510030778307;view=1up;seq=270,

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