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.
back employment fallacy
Edmund Phelps
These are some quotes by American author Edmund Phelps Economist, who was born on July 26, 1933.
Quotes by Edmund Phelps
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When ministers in this government talk about investing in education and skills, about making the planning system work; about employment law reform and delivering transport and power generation and broadband communication infrastructure, we are talking about raising Britain's productivity.