Top 93 Quotes by Edmund Phelps

About Edmund Phelps

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

In societies where one sees a higher prevalence of 'modern values' - individualism, vitalism and self-expression - there's also higher reported job satisfaction.

In societies where one sees a higher prevalence of 'modern values' - individualism, vitalism and self-expression - there's also higher reported job satisfaction.

Edmund Phelps

Economics has paid a terrible price for its dalliances with the Keynesian and neoclassical theories.

Economics has paid a terrible price for its dalliances with the Keynesian and neoclassical theories.

Edmund Phelps

What brought mass innovation to a nation was not scientific advances - its own or others' - but 'economic dynamism': the desire and the space to innovate.

What brought mass innovation to a nation was not scientific advances - its own or others' - but 'economic dynamism': the desire and the space to innovate.

Edmund Phelps

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.

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.

Edmund Phelps

Mass prosperity came with the mass innovation that sprung up in 1815 in Britain, soon after in America, and later in Germany and France: It brought sustained growth to these nations - also to nations with entrepreneurs willing and able to copy the innovations.

Edmund Phelps

A system where self-employment and self-finance was typical gave way to a system of companies having various business freedoms and enabling institutions. This was the 'great transformation' on which historians and sociologists as well as business commentators were to write volumes.

Edmund Phelps

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.

Edmund Phelps

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.

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.

Edmund Phelps

Liberal redistributionists in favor of heavy taxation place less weight on incentive than do small-government conservatives.

Liberal redistributionists in favor of heavy taxation place less weight on incentive than do small-government conservatives.

Edmund Phelps

Overpaying the banks for their toxic assets could contribute capital, but that may not be politically feasible or attractive.

Overpaying the banks for their toxic assets could contribute capital, but that may not be politically feasible or attractive.

Edmund Phelps

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