„Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies.“

—  Ben Bernanke, The Ten Suggestions http://www.federalreserve.gov/newsevents/speech/bernanke20130602a.htm. Speech given at Baccalaureate Ceremony at Princeton University, Princeton, New Jersey, June 2, 2013.
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„The fact that each nation came to believe in the virtue of whatever policy happened to be in effect when recovery began supports [the] argument that haphazard economic vacillations play an important role in determining which policy strategies become constructed as economically efficacious. This also tends to undermine the realist/utilitarian view, which suggests that policy improves over time as rational policymakers learn more about universal economic laws from experience, because wildly inconsistent policies won favor in different contexts.“

—  Frank Dobbin American sociologist 1956
Frank Dobbin (1993), "The Social Construction of the Great Depression: Industrial Policy during the 1930s in the United States, Britain and France," in: Theory and Society 22, p. 47; As cited in: Kieran Healy, "The new institutionalism and Irish social policy." Social Policy in Ireland: Principals, Practices and Problems. Oaktree Press, Dublin (1998).

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