Author

When I was in college at Amherst, my father asked me a favor: to take one course in economics. I loved it - for the challenge of its mysteries.

From Edmund Phelps

I didn't do my work for money or prizes - only for the excitement of discovery.

From Edmund Phelps

I've lived to see key parts of my research absorbed in textbooks and in central banks around the world. And some finance ministries, too.

From Edmund Phelps

In the 1960s, and stretching back to the 1930s, it was felt by many economists that easy money is a reliable way to increase employment.

From Edmund Phelps

It was gradually learned that acceptance of a somewhat higher inflation rate would not really bring somewhat higher employment.

From Edmund Phelps

I do think from time to time that conceptual questions arise: What do we mean by equilibrium? What do we mean by this concept and that concept?

From Edmund Phelps

A healthy economics has got to have both conceptual, theoretical research and applied, empirical research.

From Edmund Phelps

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.

From Edmund Phelps

In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added to households' estimates of their private wealth relative to their wage income.

From Edmund Phelps

The main cause of Europe's deep fall - the losses of inclusion, job satisfaction and wage growth - is the devastating slowdown of productivity that began in the late 1990s and struck large swaths of the continent. It holds down the growth of wages rates, and it depresses employment.

From Edmund Phelps

Edmund Phelps

Notable Quotes

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