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" A moderate tax on robots, even a temporary tax that merely slows the adoption of disruptive technology, seems a natural component of a policy to address rising inequality. Revenue could be targeted toward wage insurance, to help people replaced by new technology make the transition to a different career. "

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" My very first publication was an estimator - this was a statistical procedure - a kind of invention. My father got a patent and started a business; it wasn't successful, but maybe I have some of him in me. "

Robert J. Shiller

Successful

Kind

" I didn't vote for Trump. So we've got him. Let's hope for the best. He might do something good. "

" People might just decide, 'Yeah, I'll diversify my portfolio. I'll live in a rental.' That is a very sensible thing for many people to do. "

" A lot of people aren't saving enough. And incidentally, people are living longer now, and health care is improving. You might end up retired for 30 years - people are not really preparing for that. "

" We don't know the probabilities of future events. Still, you have to take action, and so you do it on gut feeling. That's the world we live in. "

" Yes, horoscopes still persist in popular newspapers, but they are there only for the severely scientifically challenged, or for entertainment; the idea that the stars determine our fate has lost all intellectual currency. "

" That's the world we live in: when it comes to economics, people have emotions; it's not like chemistry or physics. "

" Critics of 'economic sciences' sometimes refer to the development of a 'pseudoscience' of economics, arguing that it uses the trappings of science, like dense mathematics, but only for show. "

" I think that a lot of people in all walks of life have the impression, of course, that, 'I specialize in something. I can't - I don't have the time to read other things. I'll just go to pure entertainment when I'm relaxing, and then I'll come back to my pure specialty.' That produces - that attitude produces idiot savants, unfortunately. "

Robert J. Shiller

Think

Life

" Somehow, talking to young students brings you back to reality - it should, anyway. "

" Fear causes individuals to restrain their spending and firms to withhold investments; as a result, the economy weakens, confirming their fear and leading them to restrain spending further. The downturn deepens, and a vicious circle of despair takes hold. "

" When valuation confidence falls, it means that stock markets are perceived as overpriced. "

" This is the paradox of thrift: belt-tightening causes people to lose their jobs, because other people are not buying what they produce, so their debt burden rises rather than falls. "

" Trump does magic. Maybe it will be black magic sometime, but he's an amazing phenomenon. "

Robert J. Shiller

Will

Black

" In a bubble, eventually people start saying, 'Wait a minute... these prices are way too high! What is anyone buying anymore? What could they possibly be thinking?' And then there's a correction and a bursting. "

" Oppression thrives on distance - on not actually meeting or seeing the oppressed. "

" When I see the Trump supporters on television explaining themselves, I don't get a feeling of supreme confidence. They've created a revolution, and now maybe they're a little scared by it. "

" All taxes, except a 'lump-sum tax,' introduce distortions in the economy. But no government can impose a lump-sum tax - the same amount for everyone regardless of their income or expenditures - because it would fall heaviest on those with less income, and it would grind the poor, who might be unable to pay it at all. "

" I want to know diverse facts about such things as galaxies or molecules or proteins or insect species. I have an impulse to want to know the little details, which are usually of no significance to non-specialists. I own a dissection microscope, and if there is an insect in the house, I sometimes catch it and look at it under the microscope. "

" Trump has never been clear and consistent about what he will do as president. "

" Any time you have change, it costs somebody. Somebody is a loser. "

" If we wait until income inequality is much more severe, we will have a whole class of new superrich who will probably feel entitled to their wealth and will have the means to defend their interest. That's already gone far enough. We shouldn't let it become more extreme. "

" The future is always coming up with surprises for us, and the best way to insulate yourself from these surprises is to diversify. "

" Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a few professional economists to forecast the episode - the aftereffects of which still linger - has led many to question whether the economics profession contributes anything significant to society. "

" Hesitation is often like procrastination. One may have vague doubts and feel a need to mull things over; meanwhile, other issues intrude on thought, and no decision is taken. Ask people why they procrastinate, and you probably won't get a crisp answer. "

" People who stay unemployed for a long time start to look like damaged goods, and they don't get such good offers. Also, they're not learning anything. Most learning is on-the-job learning. "

" One should have a wide variety of assets in one's portfolio. And oil, by the way, is a particularly important asset to have in one's portfolio because we need it, and the economy thrives on it. "

" As a child, I was fascinated by any branch of physical or biological science. Even today, I find great excitement in discovering the complexity and variability of the world we live in, getting a glimpse into the deeper reality that we mostly ignore in our everyday human activities. "

" Finance is not merely about making money. It's about achieving our deep goals and protecting the fruits of our labor. It's about stewardship and, therefore, about achieving the good society. "

" This is an anxiety driven world - the whole world is driven by anxiety. It is anxiety about the aftermath of the global financial crisis; it's anxiety about inequality and about computers replacing jobs. "