American - Economist | December 26, 1940 -
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
MoreTechnologicalCapitalHappens
In the category of economic superpowers, more is better than less - the more technology those leaders develop, the more we all benefit.
TechnologyBetterMoreEconomicThan
You need a real crisis before you have reforms.
YouCrisisNeedRealBeforeReforms
The money is nice, but I am not in this game for the money.
MoneyI AmGameNiceAm
I love creating models and coming up with explicit structures I can play with.
LoveI CanCreatingPlayComingUp
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.
GoodPeopleGood ThingsRandomYou
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.
GovernmentWarValuePeopleWorld
You can't spend your way to prosperity.
YouProsperityWayYourSpend
If productivity grows, the economy does well.
EconomyProductivityWellGrowsDoes
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