Analysis Quote by Ben Bernanke
“Economic engineering is about the design and analysis of frameworks for achieving specific economic objectives.”
About This Quote
Source Lecture: Economic Policy Seminar, 2015
Economic engineering designs systems and rules to steer economies toward desired outcomes.
In simple terms: Design rules to guide economies.
Key Takeaway
Focus on structural design for goals.
Themes
economics
policy
design
Mood
analytical
pragmatic
Type
educational
inspirational
When to use this quote
- tax policy
- regulation
- market design
- social welfare programs
Key Concepts
systems theory
incentive alignment
Questions to Reflect On
- What incentives are most effective for your goal?
- How can unintended consequences be mitigated?
A Different Perspective
Complexities of human behavior can undermine engineered frameworks.
