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Edmund Phelps

Developing new products is labour- intensive. So is producing the capital goods needed to make them. These jobs disappear when innovation stalls.

Developing new products is labour- intensive. So is producing the capital goods needed to make them. These jobs disappear when innovation stalls.

capital develop disappear

These are some quotes by American author Edmund Phelps Economist, who was born on July 26, 1933.

Quotes by Edmund Phelps

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.

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.

Edmund Phelps

actioncareercountry

To prosper and advance, the American business sector is going to need a financial system oriented toward business, not 'home ownership.'

To prosper and advance, the American business sector is going to need a financial system oriented toward business, not 'home ownership.'

Edmund Phelps

advanceamericanbusiness

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.

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.

Edmund Phelps

capitalisteconomyessence

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In 1967, the world health community launched a global effort to eradicate smallpox. It took a coordinated, worldwide effort, required the commitment of every government, and cost $130 million dollars. By 1977, smallpox had disappeared.

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Without effective protection of the citizens' right to property, it will be difficult to attract and accumulate valuable capital.

Without effective protection of the citizens' right to property, it will be difficult to attract and accumulate valuable capital.

Mencius

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