7 Quotes & Sayings By Edmund Phelps

Edmund Phelps is a professor of economics at Columbia University. He was previously a fellow at the National Bureau of Economic Research. His research has been reported in both professional and popular media. In 2006, he received the John Bates Clark Medal from the American Economic Association for "his outstanding contributions to economic theory and analysis, policy evaluation, and empirical research." In 2006, he received the Nobel Memorial Prize in Economic Sciences for "his analyses of economic fluctuations and monetary policy and his reformulation of traditional macroeconomic models."

1
What brought mass innovation to a nation was not scientific advances - its own or others' - but 'economic dynamism': the desire and the space to innovate. Edmund Phelps
2
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
3
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. Edmund Phelps
4
Chancellor Angela Merkel and Wolfgang Schaeuble, her finance minister, are right to oppose fiscal and bank unions without political union. Edmund Phelps
5
No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure. Edmund Phelps
6
Companies like Google and Facebook may offer jobs allowing or requiring imagination and creativity, but the whole of Silicon Valley accounts for only 3 percent of national income and a smaller percentage of national employment. Edmund Phelps