“It is my firm belief that the only satisfactory test of economics is the ability to predict, and in crucial predictive situations such as reconversion after World War II, the settlement of the Korean War, the settlement of the Vietnam War, the abrupt economic policy switch of the Nixon Administration in August 1972, the oil shock of 1973 (forecast of a world-wide succession by LINK), the recession of 1990. In these crucial periods, econometric models outperformed other approaches, yet there is considerable room for improvement, and that is precisely what is being examined in development of high-frequency models that aim to forecast the economy, every week, every fortnight, or every month, depending on the degree of fineness of the information flow.”
Help us to complete the source, original and additional information
Lawrence Klein 15
American economist 1920–2013Related quotes

1968 https://www.lewrockwell.com/1970/01/murray-n-rothbard/cold-war-myths/

Definition of "Beat Generation" offered to Random House publishers in 1959, after being asked him if there was anything he'd like to add to the definition they were preparing for the American College Dictionary: "Certain members of the generation that came of age after World War II who affect detachment from moral and social forms and responsibilities, supposedly the result of disillusionment. Coined by Jack Kerouac." The Random House definition eventually published read: "members of the generation that came of age after World War II who, supposedly as a result of disillusionment stemming from the Cold War, espoused forms of mysticism and the relaxation of social and sexual inhibitions."

July 17, 1989 Today Real Video http://www.mediaresearch.org/rm/projects/99/Gumbel1/segment1.ram

“"It's the end of World War I / It's the end of World War II!" - It's the End of the Western”
Lyrics, Solo

Source: Call of Duty: My Life Before, During and After the Band of Brothers (2008), p. 250

“Life was simple before World War II. After that, we had systems.”
The Wit and Wisdom of Grace Hopper (1987)
R. Hartshorne (1937) "The Polish Corridor". Journal of Geography Vol 36 (5), p. 161

Source: 1970s, Take Today : The Executive as Dropout (1972), p. 152

Source: The 25-Year War: America's Military Role in Vietnam (1984), p. vii