Edmund Phelps

Leverage is great when it works, and when it doesn't work, it creates a lot of issues. So I think if you limit the amount of leverage that people can borrow, or that banks can borrow, I think you'll find that you'll have a lot less issues going forward.

By the time I reached high school my father's grocery store had made our life adequately comfortable and I was able to choose, without any practical encumbrances, the subjects that I wanted to pursue in college.