"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 PhelpsTiny Panda Quotes
Quotes by Edmund Phelps
Edmund Phelps, born on July 26, 1933, in Evanston, Illinois, is a distinguished American economist renowned for his pioneering work in the fields of labor economics and macroeconomic theory. Awarded the Nobel Prize in Economic Sciences in 2006, Phelps has profoundly influenced modern economic thought, particularly through his exploration of the relationship between inflation and unemployment. His legacy extends beyond academic circles, as his insights into innovation and productivity continue to reshape policies and inspire generations of economists worldwide.
6 quotes found
"Chancellor Angela Merkel and Wolfgang Schaeuble, her finance minister, are right to oppose fiscal and bank unions without political union."
Edmund Phelps"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"I grew up, until age 6, in Chicago. My parents rented their apartment and, at the end of the Depression, my parents wanted to replicate that situation. So, again, we lived in a somewhat suburban setting outside of New York City, and again, they rented."
Edmund Phelps"You have little representation of young black men in the business sector, so you have children growing up in disadvantaged neighborhoods who don't hear discussions at the dinner table about what goes on in business. It's almost as if we have two nations."
Edmund Phelps"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