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- Nov 07, 2020
Edmund Phelps Quotes
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- Last Updated on May 30, 2021
- Important
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- Nov 07, 2020
I'm old enough to remember in the 1930s and the 1940s when thrift, frugality, was considered an important virtue.
- Good Life
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- Nov 07, 2020
I'm hoping that the administration and other thought leaders will succeed eventually in bringing the country back to the older idea that the American dream is having a career, getting a job, and getting involved in it, and doing well. That was the core of the good life.
- Fraud
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- Nov 07, 2020
Capitalist systems function less well without state protection of investors, lenders, and companies against monopoly, deception, and fraud.
- Knowledge
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- Nov 07, 2020
In essence, capitalist systems are a mechanism by which economies may generate growth in knowledge - with much uncertainty in the process, owing to the incompleteness of knowledge.
- Economy
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- Nov 07, 2020
Well into the 20th century, scholars viewed economic advances as resulting from commercial innovations enabled by the discoveries of scientists - discoveries that come from outside the economy and out of the blue.
- Law
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- Nov 07, 2020
Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and also there is ambiguity: they don't know when they push this lever or that lever that the outcome is going to be what they think it is going to be - there is the law of unanticipated consequences.
- Growth
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- Nov 07, 2020
I just think that the Europeans are depriving themselves of a high-employment economy, and they are depriving themselves of intellectual stimulation in the workplace - and personal growth - by sticking to the stultifying, rigid system that I call corporatism.
- Know
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- Nov 07, 2020
My God, I don't know anyone who likes to accumulate their wealth more than the Europeans.
- Good
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- Nov 07, 2020
Without being aware, I think I was being indoctrinated into what was called Vitalism, the idea that what makes life worth living, the good life, consists of accepting challenges, solving problems, discovery, personal growth, personal change.
- Economy
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- Nov 07, 2020
There would be plenty of justification to raise revenues in order to subsidize businesses that employ low-wage workers. But there can be no justification for pandering to the economy's entire bottom half merely to attract its votes.
- Enough
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- Nov 07, 2020
To pump up consumer or government demand would force interest rates up and asset prices down, possibly by enough to destroy more jobs than are created.
- Back
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- Nov 07, 2020
The fallacy of the neoclassicals is their tenet that total employment, though hit by shocks, can be said always to be heading back to some normal level.
- Paid
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- Nov 07, 2020
Economics has paid a terrible price for its dalliances with the Keynesian and neoclassical theories.
- New
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- Nov 07, 2020
The need to encourage entrepreneurship and ensure that young people have the opportunity to start new businesses is acute.
- Could
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- Nov 07, 2020
Narrow banks could restart effective intermediation and ensure that consumers and employment-creating small and medium-size enterprises are adequately financed and can contribute to the reactivation of the economy.
- Feel
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- Nov 07, 2020
I would like to see people dreaming of striking out on their own into some other country or their own, wherever they feel the action is, in the hope of an exciting and rewarding career.
- Attractive
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- Nov 07, 2020
Overpaying the banks for their toxic assets could contribute capital, but that may not be politically feasible or attractive.
- Honesty
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- Nov 07, 2020