Word: learnedness
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Although 1975 was a pretty good year for the Red Sox, it was not a good one for the U.S. economy. Then as now, we were experiencing a serious oil price shock, sharply rising prices for food and other commodities, and subpar economic growth. But I see the differences between...
Another reason is the performance of monetary policy. The Federal Reserve and other central banks have learned the lessons of the 1970s. Because monetary policy works with a lag, the short-term inflationary effects of a sharp increase in oil prices can generally not be fully offset. However, since Paul...
When Dorothy asked me to speak about the campaign at morning prayers in Memorial Church, I thought, for the first time, about what my experiences had taught me. In Dubuque, Bill White showed me that getting things done means not complaining, but coming up with the next best solution. One...
In the end, de Tocqueville is right: “There is nothing more prolific in marvels than the art of being free; but there is nothing harder than the apprenticeship of freedom.” In my apprenticeship, I have followed a candidate I believe in, met people I...
Fifty years later, in the fall of 2007, Harvard undergraduates beginning their studies of the humanities or social sciences cracked open the works of Adam Smith, Jean-Jacques Rousseau, Thomas Aquinas, and Michel de Montaigne. Bending the spines of heavy books purchased from the Coop or checked out of Lamont...