A Quote by Edmund Phelps

Economists of a classical bent lay a large part of the decline of employment, and thus lagging output, to a contraction of labour supply.

Edmund Phelps

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Bent Classical Contraction Decline Economists Employment Labour Large Large Part Lay Output Part Supply Thus

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Edmund Phelps
American - Economist
Born: July 26, 1933

This has a lot to do with the unrest in Nigeria, but also with the production loss after the hurricanes in the Gulf of Mexico, the decline in Iraq since the 2003 war, and the decline in Venezuelan output since 2002.

Daniel Yergin

Tax increases appear to have a very large sustained and highly significant negative impact on output. Since most of our exogenous tax changes are in fact reductions, the more intuitive way to express this result is that tax cuts have very large and persistent positive output effects

Christina Romer

In New Classical theory, periods of declining employment - business cycle downturns - may be caused by an unexpected decline in aggregate demand, which leaves workers mistakenly holding out for nominal wages that exceed the new market-clearing level.

George Akerlof

Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.

Thomas Sowell

The oil market is especially sensitive even to a hint of expansion or contraction in supply.

James Surowiecki

There is a general decline of taste for classical dance,ce, which is neglected and this must be developed from the grassroots. There is so much of razzle-dazzle... that classical dance suffers.

Kanak Rele

Historically in every recovery, because the president rightly did inherit a recession. But historically, the lagging indicator always deals with employment.

Sean Hannity

I had the good fortune to be thrown unexpectedly into something called the Labour Research Unit - a little known organisation set up to assist the fledgling labour movement. It was not a company, nor a statutory board, nor a government department - in fact it did not exist at all as a legal entity. Thus in slightly unorthodox circumstances I became part of that struggle.

S. R. Nathan

Economics is extremely useful as a form of employment for economists.

John Kenneth Galbraith

The global supply of oil is going to decline because we've used up a good deal of the easy-to-get oil. We're going to reach a point in the not-too-distant future when it is impossible to keep increasing the daily supply.

Michael Klare

[T]he theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of production and distribution of a given output produced under the conditions of free competition and a large measure of laissez-faire.

John Maynard Keynes

China's rise is really a kind of a world historical event. This is the largest country in the world. It has caused a wholesale substantial contraction of U.S. manufacturing employment.

David Autor

Upon this subject, the habits of our whole species fall into three great classes--useful labour, useless labour and idleness. Of these the first only is meritorious; and to it all the products of labour rightfully belong; but the two latter, while they exist, are heavy pensioners upon the first, robbing it of a large portion of it's just rights. The only remedy for this is to, as far as possible, drive useless labour and idleness out of existence.

Abraham Lincoln

Labour is the source of all wealth, the political economists assert. And it really is the source -- next to nature, which supplies it with the material that it converts into wealth. But it is even infinitely more than this. It is the prime basic condition for all human existence, and this to such an extent that, in a sense, we have to say that labour created man himself.

Friedrich Engels

And, inasmuch [as] most good things are produced by labour, it follows that all such things of right belong to those whose labour has produced them. But it has so happened in all ages of the world, that some have laboured, and others have, without labour, enjoyed a large proportion of the fruits. This is wrong, and should not continue. To [secure] to each labourer the whole product of his labour, or as nearly as possible, is a most worthy object of any good government.

Abraham Lincoln

The idea of reverence for God is transmitted from parent to child, it is educated into an abnormal development, and thus almost indefinitely strengthened, but yet it does appear to me that the bent to worship is an integral part of man's nature.

Annie Besant

A Quote by Edmund Phelps

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