Home
Authors
Tags
App
Get QuoteDark Inspirational Quotes App
" Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens. "
Edward C. Prescott
Gods
See
Economics
Related Quotes:
" The Chinese are saving like mad, but they are not getting a very good return on their savings. "
Edward C. Prescott
Like
Mad
Good
" If productivity grows, the economy does well. "
Edward C. Prescott
Productivity
Well
Does
" You need a real crisis before you have reforms. "
Edward C. Prescott
Crisis
Need
Real
" At some point, the spectacular growth in China has to stop. "
Edward C. Prescott
Point
China
Spectacular
" You can't spend your way to prosperity. "
Edward C. Prescott
Way
Spend
Prosperity
" 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. "
Edward C. Prescott
People
Random
Good Things
" Economic integration is the path to riches and peace. "
Edward C. Prescott
Path
Economic
Integration
" The money is nice, but I am not in this game for the money. "
Edward C. Prescott
Am
I Am
Game
" Of all the thankless jobs that economists set for themselves when it comes to educating people about economics, the notion that society is better off if some industries are allowed to wither, their workers lose their jobs, and investors lose their capital - all in the name of the greater glory of globalization - surely ranks near the top. "
Edward C. Prescott
People
Name
Better
" Sometimes pessimism or optimism gets popular, and it's contagious. "
Edward C. Prescott
Popular
Optimism
Pessimism
" In the Great Depression, employment and investment were low because labor market institutions and industrial polices changed. "
Edward C. Prescott
Investment
Great
Labor
" It is an established scientific fact that monetary policy has had virtually no effect on output and employment in the U.S. since the formation of the Fed. "
Edward C. Prescott
Employment
Effect
Policy
" I love creating models and coming up with explicit structures I can play with. "
Edward C. Prescott
Coming
Up
Creating
" In the category of economic superpowers, more is better than less - the more technology those leaders develop, the more we all benefit. "
Edward C. Prescott
Technology
Better
Economic
" A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated. "
Edward C. Prescott
Lot
More
Technological
" 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. "
Edward C. Prescott
Relationships
Technological
Key
" Monetary policy causes booms and busts. "
Edward C. Prescott
Causes
Monetary Policy
Policy
" Despite the impression created by some economic pundits, the U.S. economy is not a delicate little machine that needs to be fine-tuned with exact precision by benevolent policymakers to keep from breaking down. "
Edward C. Prescott
Economy
Economic
Down
" 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. "
Edward C. Prescott
People
War
Value