Best quotes by Edmund Phelps on New

Checkout quotes by Edmund Phelps on New

• ‟ The need to encourage entrepreneurship and ensure that young people have the opportunity to start new businesses is acute.

  - Edmund Phelps
  

• ‟ The level of dynamism is a matter of how fertile the country is in coming up with innovative ideas having prospects of profitability, how adept it is at identifying and nourishing the ideas with the best prospects, and how prepared it is in evaluating and trying out the new products and methods that are launched onto the market.

  - Edmund Phelps
  

• ‟ Corporatist attitudes against capitalism came to the fore in the 1920s. Corporatists, with their conservative values, hated the invasion of towns and regions by new businesses, upsetting traditional ways, wealth and status.

  - Edmund Phelps
  

• ‟ The 1920s and 1930s were a period of sensational productivity growth: new products were springing up all over the place, and most of those new products and new methods were developed by people who started their own companies.

  - Edmund Phelps
  

• ‟ If every effect of any new products or methods were required to be known before they could be produced and marketed, they would not be true innovations - and thus not represent new knowledge of what people would like, if offered.

  - Edmund Phelps
  

• ‟ Developing new products is labour- intensive. So is producing the capital goods needed to make them. These jobs disappear when innovation stalls.

  - Edmund Phelps
  

• ‟ One reason why upturns follow downturns is that downturns tend to overshoot. People get panicky, they're afraid to stay the course, so they start selling. The other thing is that I think, as entrepreneurs keep on waiting to produce new things, that there's an accumulation of as-yet-unexploited new ideas that keeps mounting up.

  - Edmund Phelps
  

• ‟ An economy open to new concepts and novel ventures is bound to generate unequal gains.

  - Edmund Phelps