Raising the minimum wage seems to all economists to, at the very least, fail to 'raise' employment, and we'd all like to see better inclusion of low-skilled workers into good-paying jobs. Edmund Phelps inclusion job wage Change image and share on social
The good life, as it is popularly conceived, typically involves acquiring mastery in one's work, thus gaining for oneself better terms - or means to rewards, whether material, like wealth, or nonmaterial - an experience we may call 'prospering.' Edmund Phelps term prosper typically share on social
The Keynesian belief that 'demand' is always at the root of underemployment and slow growth is a fallacy. Edmund Phelps root underemployment fallacy Change image and share on social
The difficulties of many European countries derive from their corporatism: state projects serving cronies and vast social protection programmes, both run by elites. These surged in the 1970s and 1980s. Edmund Phelps protection corporatism elite share on social
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 vitalism modern high Change image and share on social
My God, I don't know anyone who likes to accumulate their wealth more than the Europeans. Edmund Phelps like god accumulate Change image and share on social
When the word 'morality' comes up in connection with economics, income distribution and financial stability are usually the issues. Is it moral for rich countries to use such a high proportion of the world's resources or for investment bankers to earn large bonuses? Edmund Phelps rich connection financial share on social
When I was a teenager, I learned to play the trumpet. Music became my passion. Edmund Phelps play music teenager Change image and share on social
A nation's economy is more than its markets, tastes, technologies and property rights. Edmund Phelps technology market property Change image and share on social
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. Edmund Phelps stultify rigid economy share on social
