A Quote by Gerald Epstein

Increases in interest rates normally worsen inequality, at least partly by reducing employment and wage growth.

Gerald Epstein

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Employment Growth Increases Inequality Interest Interest Rate Interest Rates Least Normally Partly Rates Reducing Wage

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Gerald Epstein
American - Author
Born: November 6, 1935

Here's the interesting thing: the fact that QE and lowering interest rates almost to zero has worsened inequality, does not mean that raising interest rates will help reduce inequality.

Gerald Epstein

The main cause of Europe's deep fall - the losses of inclusion, job satisfaction and wage growth - is the devastating slowdown of productivity that began in the late 1990s and struck large swaths of the continent. It holds down the growth of wages rates, and it depresses employment.

Edmund Phelps

It seems to me both moral and practical that in the richest in nation in the world that someone working full time shouldn't live in poverty. And studies over the last 20 years in states where we have seen these minimum wage increases show there's no discernible impact on employment growth. In fact, what it does is line low-wage workers' pockets with higher wages.

Katrina vanden Heuvel

Interest rates are going to go up because employment is going to go up. If employment goes up, then our apartments get filled. And if employment goes up, our office buildings get filled. The reality is that increased economic activity combined with increased interest rates is basically bullish for real estate.

Sam Zell

What is different between national inequality and global inequality is you have another element there that is sometimes forgotten: what matters for global inequality is relative growth rates between poor and rich countries.

Branko Milanovic

Unskilled and inexperienced workers are the ones most often deprived of employment opportunities by increases in the minimum wage.

Ron Paul

Tax increases slow economic growth. Why would you raise taxes? We need to reform spending, the tens of trillions of unfunded liabilities can never be funded by tax increases, that can only be fixed by reducing spending.

Grover Norquist

Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does not guarantee any worker's employment; it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.

Murray Rothbard

I will say this: the central banks can actually support growth beyond a point. When there is no inflation, they can cut interest rates, and that is the way they support growth, but if you cut interest rate to the bone, there is nothing more to cut. It is very hard to support growth beyond that.

Raghuram Rajan

Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.

James Grant

The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.

Ludwig von Mises

Capitalism with near-full employment was an impressive spectacle. But a growth in wealth is not at all the same thing as reducing poverty. A universal paean was raised in praise of growth. Growth was going to solve all problems. No need to bother about poverty. Growth will lift up the bottom and poverty will disappear without any need to pay attention to it. The economists, who should have known better, fell in with the same cry.

Joan Robinson

The real challenge was to model all the interest rates simultaneously, so you could value something that depended not only on the three-month interest rate, but on other interest rates as well.

John Hull

Study after study has shown that the availability of stable employment, reduced income inequality and post-imprisonment neighbourhood affluence are three of the most significant factors in reducing the frequency of violent offences.

Ash Sarkar

If Republicans are correct that lower rates spur economic growth, then lower rates on all income - made possible in part by raising capital-gains rates - should bolster economic growth across the economy.

James B. Stewart

The Federal Reserve's objectives of maximum employment and price stability do not, by themselves, ensure a strong pace of economic growth or an improvement in living standards. The most important factor determining living standards is productivity growth, defined as increases in how much can be produced in an hour of work.

Janet Yellen

A Quote by Gerald Epstein

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