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Edmund Phelps Quotes


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Quotes by Edmund Phelps

Showing 61-70 of 93 Quotes by Edmund Phelps

Unemployment rates tend to rise and fall in roughly equal proportion at all rungs of the ladder, and that happened between 1973 and 1985.

~Edmund Phelps

Topics: Between Equal Fall Happened Ladder Proportion Rates Rise Roughly Tend Unemployment

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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

Topics: Bankers Connection Countries Distribution Earn Economics Financial Financial Stability High Income Investment Issues Large Moral Morality Proportion Resources Rich Stability Up Use Word World

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Liberal redistributionists in favor of heavy taxation place less weight on incentive than do small-government conservatives.

~Edmund Phelps

Topics: Conservatives Favor Heavy Incentive Less Liberal Place Taxation Than Weight

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Everybody feels better about himself, his community, and his country if employers are paying workers well. Economics, though, teaches that if every employer is pressured to raise wages, some labor will be priced out of the market.

~Edmund Phelps

Topics: About Better Community Country Economics Employer Employers Every Everybody Feels Himself His Labor Market Out Paying Pressured Raise Some Teaches Though Wages Well Will Workers

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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

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

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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

Topics: Both Countries Derive Difficulties Elites European European Countries Many Programmes Projects Protection Run Serving Social State Vast 1970S 1980S

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Italy and France could lop off their excessive wealth through a one-time tax on private wealth.

~Edmund Phelps

Topics: Could Excessive France Italy Off Private Tax Through Wealth

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Democrats and Republicans have been very keen to make home ownership almost a national purpose.

~Edmund Phelps

Topics: Almost Been Democrats Democrats And Republicans Home Home Ownership Keen Make National Ownership Purpose Republicans Very

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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

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

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

~Edmund Phelps

Topics: Considered Enough Frugality Important Old Old Enough Remember Thrift Virtue 1930S 1940S

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Biography

Nationality: American

Type: Economist

Born: July 26th, 1933

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