Though Arthur Burns is often described as a hidebound, conservative economist, his writings, speeches and personal remarks reveal that his interests are more catholic and his thinking more flexible than many of his critics suggest. Samples:
ON ECONOMIC MANAGEMENT: Anyone who is convinced that he can fine-tune the economy doesn't know what he is talking about.
ON UNEMPLOYMENT: An unemployment rate of 4.5% or 5% is high for any country, and it is uncomfortably high for a nation that aspires to greatness.
ON A FREE ECONOMY: The public interest would be well served if...