93 Quotes by Edmund Phelps

For decades, my research was driven by outstanding problems in macroeconomics: mainly growth theory and employment theory.

I didn't do my work for money or prizes - only for the excitement of discovery.

I do think from time to time that conceptual questions arise: What do we mean by equilibrium? What do we mean by this concept and that concept?

I don't think the economy telegraphs very clearly where it's going.

I've lived to see key parts of my research absorbed in textbooks and in central banks around the world. And some finance ministries, too.

In the 1960s, and stretching back to the 1930s, it was felt by many economists that easy money is a reliable way to increase employment.

It was gradually learned that acceptance of a somewhat higher inflation rate would not really bring somewhat higher employment.

Workers in decent jobs view the economy as unjust if they or their children have virtually no chance of climbing to a higher rung in the socioeconomic ladder.

When I was a teenager, I learned to play the trumpet. Music became my passion.