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

- Edmund Phelps
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Author:
Edmund Phelps
Tags:
Acceptance
Inflation
Employment
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A system where self-employment and self-finance was typical gave way to a system of companies having various business freedoms and enabling institutions. This was the 'great transformation' on which historians and sociologists as well as business commentators were to write volumes.

Expertise and judgment in the art of lending for novel ventures must be reacquired.

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?

Democrats and Republicans have been very keen to make home ownership almost a national purpose.

I'm old enough to remember in the 1930s and the 1940s when thrift, frugality, was considered an important virtue.

Unemployment determination in a modern economy was the main subject area of my research from the mid-1960s to the end of the 1970s and again from the mid-1980s to the early 1990s.

I attended Amherst College from 1951 to 1955. The first two years were a revelation. There were innumerable exchanges with brilliant classmates, among them the playwright Ralph Allen, the classics scholar Robert Fagles, and the composer Michael Sahl.

In countries operating a largely capitalist system, there does not appear to be a wide understanding among its actors and overseers of either its advantages or its hazards.

I could try to incorporate or reflect in my models what it is that an employee, manager, or entrepreneur does: to recognize that most are engaged in their work, form expectations and evolve beliefs, solve problems, and have ideas. Trying to put these people into economic models became my project.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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