Franco Modigliani Quotations

With the danger of war, there is a danger that the economy will go down.

The immediate effect of the deficit is to make you feel good, like when you go on a trip and pay later. You feel good, and then you get a hangover. The deficit makes you feel good - until you pay later.

Economists agree about economics - and that's a science - and they disagree about economic policy because that's a value judgment... I've had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree.

Is it important that the rent of land be retained as a source of government revenue. Some persons who could make excellent use of land would be unable to raise money for the purchase price. Collecting rent annually provides access to land for persons with limited access to credit.

A situation where people can grow old without having a job that rewards them individually while adding to the collective well-being is morally unacceptable.

High leverage is unsafe, not just for a company but the entire economy... LBOs are reducing the safety. Management loses the power to do many things. It has no margin for error and less margin for additional risk.