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Edmund Phelps Quotes

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 Picture Quote #1

A system where self-employment and self-finance was typical gave way to a system of companies having various business freedoms and enabling institutions. This was the ‘great transformation’ on which historians and sociologists as well as business commentators were to write volumes Picture Quote #1

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 Picture Quote #1

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 Picture Quote #1

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 Picture Quote #1

A modern economy is marked by the feasibility of endogenous change: Modernization brings myriad arrangements from expanded property rights to company law and financial institutions Picture Quote #1

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Most of the big banks were shot through with short-termism, deceptive practices and self-dealing. We must institute basic changes in corporate governance and in management practice to restore responsibility and honesty for the sake of the economy and for the self-respect of the country Picture Quote #1

Some economists believe that the Greeks’ work ethic and thrift can pull them through. But the classical virtues can do nothing to offset the dearth of innovation that plagues the economy Picture Quote #1

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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 Quotes) A system where self-employment and self-finance was typical gave way to a system of companies having various business freedoms and enabling institutions. This was the ‘great transformation’ on which historians and sociologists as well as business commentators were to write volumes. (Edmund Phelps Quotes) 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 Quotes) 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 Quotes) 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 Quotes) A modern economy is marked by the feasibility of endogenous change: Modernization brings myriad arrangements from expanded property rights to company law and financial institutions. (Edmund Phelps Quotes) Most of the big banks were shot through with short-termism, deceptive practices and self-dealing. We must institute basic changes in corporate governance and in management practice to restore responsibility and honesty for the sake of the economy and for the self-respect of the country. (Edmund Phelps Quotes) Some economists believe that the Greeks’ work ethic and thrift can pull them through. But the classical virtues can do nothing to offset the dearth of innovation that plagues the economy. (Edmund Phelps Quotes)

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