It is a special privilege that we are honoring Stanley and Rhoda Fischer today. As I think, both would wish, I shall be brief, but hopefully non-less eloquent. Let me try to explain in a few words what the gift that I hold, the bust of John Maynard Keynes, represents here and now at this solemn event.

John Maynard Keynes, was both a man of excellence as well as a man of compassion: an interesting citizen of the world and human being indeed.

In the case of a very distinguished person, our dear colleague Stanley Fischer, I am sure that: obtaining today, a perfect replica, of the bust of Keynes which for years and years he personally caressed in the head—in days of distress, of challenges, and of opportunities—while remaining in his austere office on the 12th floor, is a perfect gift: something most valuable and cherished. I have in my memory the many times, at the end of a long working day, when Stan would become the philosopher of science, the political economy thinker and would relate to me some particularly illuminating anecdote of actions, of debates, or testimonies by the Great Lord Keynes.

In those hours of dusk, I always got a heuristic feeling from Stan's emphasis and his carefully chosen phrases in those occasions: and saw a new glare in his eyes appearing with special interest; it was for him … like an act of transportation. Going from policy advise, key numbers crunching, and diplomatic dialogue back to academia, to thoughts serenely organized, to a moment of reflection.

Given all of this, and obeying his ordinal as well as his cardinal preferences, we have chosen this symbol to be delivered to him today, to keep and cherish. To have via our bronze-friend, one of our key founding fathers, our memories of good work done and of friendships shared.

Let me read a few quotations from "Essays in Persuasion" by John Maynard Keynes: Part V: The Future.

"Now for my conclusion, which you will find, I think, to become more and more startling to the imagination the longer you think about it.

I draw the conclusion that, assuming no important wars and no important increase in population, the economic problem may be solved, or be at least within sight of solution, within a hundred years. This means that the economic problem is not—if we look into the future—the permanent problem of the human race."

Then, some nine paragraphs later, Keynes also expressed:

"Thus for the first time since his creation, man will be faced with his real, his permanent problem—how to use his freedom from pressing economic cares, how to occupy the leisure, which science and compound interest will have won for him, to live wisely, and agreeably, and well."

Stanley Fischer, here and today in the name of Management and all staff, I ask you—respectfully—to reflect carefully on how you shall occupy the "leisure" that your excellent applications of our science has won for you and Rhoda? More precisely, paraphrasing Lord Keynes: we are positive, this rightly earned time, shall be utilized by both of you "to live wisely, and agreeably, and well."

Stanley and Rhoda: all the very best!!