13 Quotes by Robert Lucas, Jr.

My parents were admirers of President Roosevelt and the New Deal. Their parents and most of our relatives and neighbors were Republicans, so they were self-conscious in their liberalism and took it as emblematic of their ability to think for themselves.

I was good at math and science, and it was expected that I would attend the University of Washington in Seattle and become an engineer. But by the time I was seventeen, I was ready to leave home, a decision my parents agreed to support if I could obtain a scholarship. MIT did not grant me one, but the University of Chicago did.

From the beginnings of modern monetary theory, in David Hume's marvelous essays of 1752, 'Of Money and Of Interest,' conclusions about the effect of changes in money have seemed to depend critically on the way in which the change is effected.

Monetary contractions are attractive as the key shocks in the 1929-1933 years, and in other severe depressions, because there do not seem to be any other candidates.