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Edmund Phelps Quotes


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Quotes by Edmund Phelps

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If every effect of any new products or methods were required to be known before they could be produced and marketed, they would not be true innovations - and thus not represent new knowledge of what people would like, if offered.

~Edmund Phelps

Topics: Any Be True Before Could Effect Every Innovations Knowledge Known Like Methods New New Knowledge New Products Offered People Produced Products Represent Required Thus True Were Would

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I started to think about what drives innovation and what its social significance might be. The next step was to think innovators are taking a leap into the unknown. That led me to the thought that it is also a source of fun and employee engagement.

~Edmund Phelps

Topics: About Also Drives Employee Engagement Fun Innovation Innovators Leap Led Me Might Next Next Step Significance Social Source Started Step Taking Think Thought Unknown

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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

Topics: Also Higher Individualism Job Modern Reported Satisfaction Sees Self-Expression Societies Values Where

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I think the 19th century is an extraordinary period with a welling up of creativity and all kinds of experimentation and exploration going on at least until 1940.

~Edmund Phelps

Topics: Century Creativity Experimentation Exploration Extraordinary Going Kinds Least Period Think Until Up I Think 19Th Century

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The 1920s and 1930s were a period of sensational productivity growth: new products were springing up all over the place, and most of those new products and new methods were developed by people who started their own companies.

~Edmund Phelps

Topics: Companies Developed Growth Methods Most New New Products Over Own People Period Place Productivity Products Sensational Started Those Up Were Who 1920S 1930S

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Statistical studies are all over the lot about the pluses and minuses of raising the minimum wage.

~Edmund Phelps

Topics: About Lot Minimum Minimum Wage Over Raising Statistical Studies Wage

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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

Topics: Better Economists Employment Fail Inclusion Jobs Least Like Minimum Minimum Wage Raise Raising See Seems Very Wage Workers

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My thinking has always been that the worst problem we have with regard to lack of inclusion is the terribly low labor force participation rates and terribly high unemployment rates of young men, especially young men in ethnic minority groups and, in particular, young black men.

~Edmund Phelps

Topics: Always Been Black Ethnic Force Groups High Inclusion Labor Lack Low Men Minority Participation Particular Problem Rates Regard Terribly Thinking Unemployment Worst Young Young Men

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You have little representation of young black men in the business sector, so you have children growing up in disadvantaged neighborhoods who don't hear discussions at the dinner table about what goes on in business. It's almost as if we have two nations.

~Edmund Phelps

Topics: About Almost Black Business Children Dinner Dinner Table Disadvantaged Discussions Goes Growing Growing Up Hear Little Men Nations Neighborhoods Representation Sector Table Two Up Who You Young

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For decades, my research was driven by outstanding problems in macroeconomics: mainly growth theory and employment theory.

~Edmund Phelps

Topics: Decades Driven Employment Growth Mainly Outstanding Problems Research Theory

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Biography

Nationality: American

Type: Economist

Born: July 26th, 1933

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