Sometimes pessimism or optimism gets popular, and it's contagious. Edward C. Prescott contagiousoptimismpessimism Change image and share on social
After World War II, there were a lot of pension funds in Europe that were fully funded, but they were pressured to hold a lot of government debt. There was a lot of inflation, and the value of all those assets fell. Those pension funds couldn't honor their promises to the people. Edward C. Prescott assetdebteurope share on social
At some point, the spectacular growth in China has to stop. Edward C. Prescott chinagrowthpoint Change image and share on social
The money is nice, but I am not in this game for the money. Edward C. Prescott gamemoneynice Change image and share on social
It is an established scientific fact that monetary policy has had virtually no effect on output and employment in the U.S. since the formation of the Fed. Edward C. Prescott effectemploymentestablish Change image and share on social
Economic integration is the path to riches and peace. Edward C. Prescott economicintegrationpath Change image and share on social
Random distributions are not good things, because people are risk-averse, and this risk adversely affects their welfare. If you get too much price uncertainty, all kinds of long-term, mutually beneficial contracts can't be entered into. Edward C. Prescott adverselyaffectaverse share on social
If productivity grows, the economy does well. Edward C. Prescott economygrowproductivity Change image and share on social
A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated. Edward C. Prescott absorbcapitalcountry Change image and share on social
Monetary policy causes booms and busts. Edward C. Prescott boombustmonetary Change image and share on social
