2214 quotes by economists for you to enjoy

Expertise and judgment in the art of lending for novel ventures must be reacquired. Edmund Phelps

Art Judgment Must Ventures Expertise Lending Novel

America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most. Edmund Phelps

Creative Innovation Competition Financial National Few Ran Rapid Rapid Growth Indigenous Rising Economic Most Period Sure Frenzy Wages Were Years Provided America Depressions Engaging Inclusion Activity Income Peak Growth Widening Two Careers

At the simplest level, economics can better show us the consequences of our actions. Less simple are cases in which we don't have the knowledge to predict the full consequences. Global warming and climate change are examples. Edmund Phelps

Knowledge Change Better Simple Economics Predict Consequences Our Cases Examples Simplest Global Global Warming Climate Climate Change Which Warming Us Full Show Less Actions Level

If you rent, that's it. You don't have to pay any interest to anybody. You don't have to pay any maintenance costs to anybody. You don't have to worry about whether the boiler is going to break down. While if you own your own home, you have a hundred aggravations. Edmund Phelps

Home You Own Pay Down Hundred Worry About Costs Maintenance Rent Any Going Anybody Break Whether While Interest Your

I'm old enough to remember in the 1930s and the 1940s when thrift, frugality, was considered an important virtue. Edmund Phelps

Remember Old Important Enough Virtue Considered Thrift Frugality Old Enough

I'm hoping that the administration and other thought leaders will succeed eventually in bringing the country back to the older idea that the American dream is having a career, getting a job, and getting involved in it, and doing well. That was the core of the good life. Edmund Phelps

Life Good Will Job Thought Country Older Other Good Life Back Dream Administration Hoping Having Leaders Idea Involved Well Doing American Getting American Dream Succeed Eventually Bringing Career Core

My God, I don't know anyone who likes to accumulate their wealth more than the Europeans. Edmund Phelps

God Wealth More Know Likes Than Accumulate Anyone Who Europeans

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

Economics Price Terrible Paid Theories

Germany, Italy and France appear to possess less dynamism than do the U.S. and the others. Edmund Phelps

Others France Possess Italy Germany Than Dynamism Less Appear

Entrepreneurs' willingness to innovate or just to invest - and thus create new jobs - is driven by their 'animal spirits,' as they decide whether to leap into the void. Edmund Phelps

Animal Innovate Jobs Willingness Spirits Void Entrepreneurs Invest Driven Thus New Leap New Jobs Just Decide Whether Create

I'm not attacking the idea that people live in conglomerations of houses in proximity to one another, sharing the same water mains and the same newspaper delivery boy and so forth. I'm not objecting to that. That could happen with or without homeownership. Edmund Phelps

People Water Live Attacking Could Delivery Sharing Idea Another Houses Without Boy Proximity Same Happen Newspaper Forth

I grew up thinking that renting is perfectly normal. And then, strangely enough, I never did buy a house. I live in New York City, and I'm still renting. My own personal narrative shows that it is possible to live a respectable life without ever having owned a home. Edmund Phelps

Life Buy Home Own Live Thinking Enough Respectable Possible City My Own Having Never Perfectly New House Without Narrative Renting Still Normal Up Did Personal York Owned New York New York City Grew Then Strangely Shows Ever

Of all the thankless jobs that economists set for themselves when it comes to educating people about economics, the notion that society is better off if some industries are allowed to wither, their workers lose their jobs, and investors lose their capital - all in the name of the greater glory of globalization - surely ranks near the top. Edward C. Prescott

People Better Economics Lose Society Top Ranks Jobs Some About Better Off Allowed Investors Name Economists Globalization Industries Wither Greater Surely Glory Educating Off Thankless Capital Themselves Workers Notion Near Set

You need a real crisis before you have reforms. Edward C. Prescott

You Before Crisis Real Reforms Need

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

Virtually Fact Output Fed Had Since Employment Policy Scientific Scientific Fact Effect Established Formation Monetary Monetary Policy

The Chinese are saving like mad, but they are not getting a very good return on their savings. Edward C. Prescott

Good Saving Savings Mad Like Return Very Getting Chinese

Economic integration is the path to riches and peace. Edward C. Prescott

Peace Path Economic Integration Riches

Multinational companies use their technological know-how in their foreign subsidiaries, so reciprocal multinational relationships are key - they lead to a vested interest in both countries to remaining open. Edward C. Prescott

Key Reciprocal Relationships Both Remaining Lead Open Countries Know-How Foreign Vested Vested Interest Interest Use Companies Multinational Technological

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

War Government People World Inflation Honor Value Promises Those Pressured Pension Fell Were Lot Debt Hold After Europe Fully Assets Funds World War World War II

Quotes by Economists