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Edmund Phelps Quotes


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Quotes by Edmund Phelps

Showing 71-80 of 93 Quotes by Edmund Phelps

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

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

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In countries operating a largely capitalist system, there does not appear to be a wide understanding among its actors and overseers of either its advantages or its hazards.

~Edmund Phelps

Topics: Actor Advantages Among Appear Capitalist Countries Does Either Hazards Largely Operating System Understanding Wide

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Capitalist systems function less well without state protection of investors, lenders, and companies against monopoly, deception, and fraud.

~Edmund Phelps

Topics: Against Capitalist Companies Deception Fraud Function Investors Less Monopoly Protection State Systems Well Without

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In essence, capitalist systems are a mechanism by which economies may generate growth in knowledge - with much uncertainty in the process, owing to the incompleteness of knowledge.

~Edmund Phelps

Topics: Capitalist Economies Essence Generate Growth Knowledge May Mechanism Much Owing Process Systems Uncertainty Which

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Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and also there is ambiguity: they don't know when they push this lever or that lever that the outcome is going to be what they think it is going to be - there is the law of unanticipated consequences.

~Edmund Phelps

Topics: Also Ambiguity Bets Consequences Entrepreneurs Future Going Know Law Lever Making Only Outcome Picture Push Think Which

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I just think that the Europeans are depriving themselves of a high-employment economy, and they are depriving themselves of intellectual stimulation in the workplace - and personal growth - by sticking to the stultifying, rigid system that I call corporatism.

~Edmund Phelps

Topics: Call Depriving Economy Europeans Growth Intellectual Just Personal Personal Growth Rigid Sticking Stimulation System Themselves Think Workplace

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

~Edmund Phelps

Topics: Accumulate Anyone Europeans God Know Likes More Than Wealth Who

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There would be plenty of justification to raise revenues in order to subsidize businesses that employ low-wage workers. But there can be no justification for pandering to the economy's entire bottom half merely to attract its votes.

~Edmund Phelps

Topics: Attract Bottom Businesses Economy Employ Entire Half Justification Merely Order Plenty Raise Revenues Subsidize Votes Workers Would

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To pump up consumer or government demand would force interest rates up and asset prices down, possibly by enough to destroy more jobs than are created.

~Edmund Phelps

Topics: Asset Consumer Created Demand Destroy Down Enough Force Government Interest Interest Rates Jobs More Possibly Prices Pump Rates Than Up Would

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The fallacy of the neoclassicals is their tenet that total employment, though hit by shocks, can be said always to be heading back to some normal level.

~Edmund Phelps

Topics: Always Back Employment Fallacy Heading Hit Level Normal Said Shocks Some Though Total

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Biography

Nationality: American

Type: Economist

Born: July 26th, 1933

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