Phrase by 'Edward C. Prescott'
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A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.
Author: Edward C. Prescott - American EconomistMore , Happens , Technological , Quickly
In the category of economic superpowers, more is better than less - the more technology those leaders develop, the more we all benefit.
Author: Edward C. Prescott - American EconomistMore , Better , Technology , Economic
You need a real crisis before you have reforms.
Author: Edward C. Prescott - American EconomistCrisis , You , Need , Real
The money is nice, but I am not in this game for the money.
Author: Edward C. Prescott - American EconomistMoney , Game , I Am , Nice
Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens.
Author: Edward C. Prescott - American EconomistSee , Own , Like , Economics
I love creating models and coming up with explicit structures I can play with.
Author: Edward C. Prescott - American EconomistLove , Up , I Can , Play
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.
Author: Edward C. Prescott - American EconomistYou , People , Good , Random
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.
Author: Edward C. Prescott - American EconomistPeople , World , Value , War
You can't spend your way to prosperity.
Author: Edward C. Prescott - American EconomistYou , Your , Way , Prosperity
If productivity grows, the economy does well.
Author: Edward C. Prescott - American EconomistWell , Does , Economy , Productivity
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