Edmund Phelps : (5)

" The fallacy of the neoclassicals is their tenet that total employment, though hit by shocks, can be said always to be heading back to some normal level. " - Edmund Phelps

" A nation’s economy is more than its markets, tastes, technologies and property rights. " - Edmund Phelps

" Things can get only so bad. People want to eat, so at some point they resist further cuts to their consumption – it’s not a bottomless pit. " - Edmund Phelps

" I started to think about what drives innovation and what its social significance might be. The next step was to think innovators are taking a leap into the unknown. That led me to the thought that it is also a source of fun and employee engagement. " - Edmund Phelps

" Those of us born into vitalist and expressionist cultures must hope that governments will draw back from shutting down the modernist project of exploring, experimenting, and imagining – of voyaging into the unknown – that has been essential for rewarding lives. " - Edmund Phelps