- Belief
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- Nov 07, 2020
Edmund Phelps Quotes
Most Famous Edmund Phelps Quotes of All Time!
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- Last Updated on May 30, 2021
- Help
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- Nov 07, 2020
No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.
- Horizon
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- Nov 07, 2020
There's such a preoccupation with liquidity and such an unwillingness to invest beyond the horizon of the next quarter and making sure that the CEOs hit their quarterly earnings.
- Free
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- Nov 07, 2020
When public spending in the form of transfer payments makes various services and benefits free of charge, work is discouraged. Yet it is precisely Social Security that legislators fear to cut.
- Expertise
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- Nov 07, 2020
Expertise and judgment in the art of lending for novel ventures must be reacquired.
- People
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- Nov 07, 2020
One reason why upturns follow downturns is that downturns tend to overshoot. People get panicky, they're afraid to stay the course, so they start selling. The other thing is that I think, as entrepreneurs keep on waiting to produce new things, that there's an accumulation of as-yet-unexploited new ideas that keeps mounting up.
- Bad People
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- Nov 07, 2020
Things can get only so bad. People want to eat, so at some point they resist further cuts to their consumption - it's not a bottomless pit.
- New
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- Nov 07, 2020
An economy open to new concepts and novel ventures is bound to generate unequal gains.
- Competition
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- Nov 07, 2020
America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most.
- Innovation
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- Nov 07, 2020
My view is that innovation has declined in the everyday processes that businesses tinker with incrementally as they try to become more productive over time.
- Ladder
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- Nov 07, 2020
Unemployment rates tend to rise and fall in roughly equal proportion at all rungs of the ladder, and that happened between 1973 and 1985.
- Financial Stability
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- Nov 07, 2020
When the word 'morality' comes up in connection with economics, income distribution and financial stability are usually the issues. Is it moral for rich countries to use such a high proportion of the world's resources or for investment bankers to earn large bonuses?
- Heavy
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- Nov 07, 2020
Liberal redistributionists in favor of heavy taxation place less weight on incentive than do small-government conservatives.
- Community
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- Nov 07, 2020
Everybody feels better about himself, his community, and his country if employers are paying workers well. Economics, though, teaches that if every employer is pressured to raise wages, some labor will be priced out of the market.
- Change
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- Nov 07, 2020
At the simplest level, economics can better show us the consequences of our actions. Less simple are cases in which we don't have the knowledge to predict the full consequences. Global warming and climate change are examples.
- Difficulties
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- Nov 07, 2020
The difficulties of many European countries derive from their corporatism: state projects serving cronies and vast social protection programmes, both run by elites. These surged in the 1970s and 1980s.
- Nov 07, 2020