Author

Multinational companies use their technological know-how in their foreign subsidiaries, so reciprocal multinational relationships are key - they lead to a vested interest in both countries to remaining open.

From Edward C. Prescott

A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.

From Edward C. Prescott

In the category of economic superpowers, more is better than less - the more technology those leaders develop, the more we all benefit.

From Edward C. Prescott

You need a real crisis before you have reforms.

From Edward C. Prescott

The money is nice, but I am not in this game for the money.

From Edward C. Prescott

Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens.

From Edward C. Prescott

I love creating models and coming up with explicit structures I can play with.

From Edward C. Prescott

Random distributions are not good things, because people are risk-averse, and this risk adversely affects their welfare. If you get too much price uncertainty, all kinds of long-term, mutually beneficial contracts can't be entered into.

From Edward C. Prescott

After World War II, there were a lot of pension funds in Europe that were fully funded, but they were pressured to hold a lot of government debt. There was a lot of inflation, and the value of all those assets fell. Those pension funds couldn't honor their promises to the people.

From Edward C. Prescott

You can't spend your way to prosperity.

From Edward C. Prescott

Edward C. Prescott

Notable Quotes

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Authors with Opposing Views

Adi Godrej

Amy Chua

Clayton M. Christensen

Emmanuel Macron

George Soros