A Quote by Edmund Phelps

Well into the 20th century, scholars viewed economic advances as resulting from commercial innovations enabled by the discoveries of scientists - discoveries that come from outside the economy and out of the blue.
Some of the most important discoveries, innovations, and advances in our history have come from those seeking a new life in America.
Humanity’s greatest advances are not in its discoveries – but in how those discoveries are applied to reduce inequity. Whether through democracy, strong public education, quality health care, or broad economic opportunity – reducing inequity is the highest human achievement.
Humanity’s greatest advances are not in its discoveries – but in how those discoveries are applied to reduce inequity.
But one of the things I learned from improvising is that all of life is an improvisation, whether you like it or not. Some of the greatest scientific discoveries of the 20th century came out of people dropping things.
Taking a look back, one big reqret is, I left Harvard with no real awareness of the awful inequities in the world. The appalling disparities of health and wealth and opportunity that condemned millions of people to the lives of despair. I learned a lot here at Harvard about new ideas and economics, and politics. I got great exposure to the advances being made in the sciences. But humanities greatest advances are not in its discoveries, but in how those discoveries are applied to reduce inequity.
Greatest discoveries come from passionate scientists with naive curiosity
To me, part of the magic of this era is that the very same innovations, discoveries, and technologies that are allowing us to live longer, healthier lives are also creating a healthier economy.
It was a dogma throughout most of the 20th century that quantum science only applied to subatomic matter, and we now know that not to be true. One of the major discoveries was Quantum Holography.
If innovations were predictable, they wouldn't be discoveries.
Modern science developed in the context of western religious thought, was nurtured in universities first established for religious reasons, and owes some of its greatest discoveries and advances to scientists who themselves were deeply religious.
Innovations and discoveries have created new industries giving more and more Americans better jobs and adding greatly to the prosperity and well being of all.
If you go back to the 17th century, scientists generally weren't rewarded much at all for sharing discoveries, and as a result, they conducted a lot of their research very, very secretively indeed.
The very nature of science is discoveries, and the best of those discoveries are the ones you don't expect.
Genius consists not in making great discoveries, but in seeing the connection between small discoveries.
It is one of our most exciting discoveries that local discovery leads to a complex of further discoveries.
Certain elements of today's ecological crisis reveal its moral character. First among these is the indiscriminate application of advances in science and technology. Many recent discoveries have brought undeniable benefits to humanity. Indeed, they demonstrate the nobility of the human vocation to participate responsibly in God's creative action in the world. Unfortunately, it is now clear that the application of these discoveries in the fields of industry and agriculture have produced harmful long-term effects.
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