A Quote by Michael Spence

Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth - because they require eliminating protections for vested interests in the short term for the sake of greater long-term prosperity.

Michael Spence

Quote Topics

Always Because Economy Eliminating Even Flexibility Greater Growth Hard Increasing Interests Long Long-Term More Prosperity Reforms Require Sake Short Short Term Term Time Vested Vested Interest Vested Interests Weak

Quote Author

Michael Spence
American - Economist
Born: November 7, 1943

The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.

Paul Saffo

Unless you invest in people, you are not going to see growth in the long term, the medium term, and maybe even the short term.

Jim Yong Kim

Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.

Jim Rogers

No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.

Edmund Phelps

With neoliberalism discredited and austerity failed, we need to rewrite the rules of the economy once again. But this time in the right way. We need rules that focus on long-term economic growth, and the only kind of sustainable prosperity is shared prosperity.

Joseph Stiglitz

People always say be true to yourself. But that’s misleading, because there are two selves. There’s your short term self, and there’s your long term self. And if you’re only true to your short term self, your long term self slowly decays.

Brandon Stanton

Britain can choose, as others are, short term fixes and more stimulus. Or we can lead the world with long-term solutions to long-term problems.

George Osborne

Positive defaults align our short-term decisions with our long-term interests. And we don't always do that.

Tom Rath

Wall Street is always too biased toward short-term profitability and biased against long-term growth.

Peter Thiel

We don't really look at the stock, you know? Because for us, it's about the long term. And so we're very much focused on long-term shareholder value but not the short-term kind of stuff.

Tim Cook

Everywhere you turn you see Americans sacrifice their long-term interests for a short-term reward.

Michael Lewis

I've been around a long time, and I've been interested in memory for a long time. And one of my earlier interests in molecular biology of memory led me to define the switch that converts short term to long term memory.

Eric Kandel

My first priority is growing this economy in the long term, and stimulating it in the short term.

Bob Menendez

The choice facing the American people is not between growth and stagnation, but between short-term growth and long-term disaster.

Stewart Udall

Gujarat under Narendra Modi has focused on good governance in the power sector and implemented long-term reforms as opposed to the short-term and anarchic methods adopted by Sheila Dikshit and Arvind Kejriwal in Delhi.