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Edmund Phelps Quotes


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Quotes by Edmund Phelps

Showing 51-60 of 93 Quotes by Edmund Phelps

The Keynesian belief that 'demand' is always at the root of underemployment and slow growth is a fallacy.

~Edmund Phelps

Topics: Always Belief Demand Fallacy Growth Root Slow

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No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.

~Edmund Phelps

Topics: Achieve Amount Cure Debt Even Forgiveness Greeks Help Long-Term Need Prosperity Rather Real Relief Restructuring Short-Term Will

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There's such a preoccupation with liquidity and such an unwillingness to invest beyond the horizon of the next quarter and making sure that the CEOs hit their quarterly earnings.

~Edmund Phelps

Topics: Beyond Ceos Earnings Hit Horizon Invest Liquidity Making Next Preoccupation Quarter Sure

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When public spending in the form of transfer payments makes various services and benefits free of charge, work is discouraged. Yet it is precisely Social Security that legislators fear to cut.

~Edmund Phelps

Topics: Benefits Charge Cut Discouraged Fear Form Free Legislators Makes Payments Precisely Public Security Services Social Social Security Spending Transfer Various Work

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I don't think the economy telegraphs very clearly where it's going.

~Edmund Phelps

Topics: Clearly Economy Going Think Very Where

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One reason why upturns follow downturns is that downturns tend to overshoot. People get panicky, they're afraid to stay the course, so they start selling. The other thing is that I think, as entrepreneurs keep on waiting to produce new things, that there's an accumulation of as-yet-unexploited new ideas that keeps mounting up.

~Edmund Phelps

Topics: Accumulate Afraid Course Entrepreneurs Follow Get Ideas Keep Keeps Mounting New New Ideas New Things Other People Produce Reason Selling Start Stay Tend Thing Things Think Up Waiting Why I Think

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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

Topics: Bad Bad People Consumption Cuts Eat Further Get Only People Pit Point Resist Some Things Want

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An economy open to new concepts and novel ventures is bound to generate unequal gains.

~Edmund Phelps

Topics: Bound Concepts Economy Gains Generate New Novel Open Unequal Ventures

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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

Topics: Activity America Careers Competition Creative Economic Engaging Few Financial Frenzy Growth Inclusion Income Indigenous Innovation Most National Peak Period Provided Ran Rapid Rising Sure Two Wages Were Widening Years 1960S

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My view is that innovation has declined in the everyday processes that businesses tinker with incrementally as they try to become more productive over time.

~Edmund Phelps

Topics: Become Businesses Declined Everyday Innovation More Over Processes Productive Time Tinker Try View

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Biography

Nationality: American

Type: Economist

Born: July 26th, 1933

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