Edmund Phelps

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

My God, I don't know anyone who likes to accumulate their wealth more than the Europeans. ”

Italy and France could lop off their excessive wealth through a one-time tax on private wealth. ”

With less competition to fear, companies are emboldened to raise their mark-ups and profits. That lifts share prices and thus the wealth of already wealthy shareholders. ”

Egalitarians' who complain about inequality view the wealth of the wealthiest as bad in itself: it disfigures society. They would enact a wealth tax to extirpate the offending wealth. ”

In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added to households' estimates of their private wealth relative to their wage income. ”

The best part of the high school in Hastings must have been the Music Department. Its orchestra and concert band did well in county competitions, and the dance band formed by its students was the best in the region. I played lead trumpet in all of them. ”

Liberal redistributionists in favor of heavy taxation place less weight on incentive than do small-government conservatives. ”

What brought mass innovation to a nation was not scientific advances - its own or others' - but 'economic dynamism': the desire and the space to innovate. ”

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