After World War II, there were a lot of pension funds in Europe that were fully funded, but they were pressured to hold a lot of government debt. There was a lot of inflation, and the value of all those assets fell. Those pension funds couldn't honor their promises to the people.
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"After World War II, there were a lot of pension funds in Europe that were fully funded, but they were pressured to hold a lot of government debt. There was a lot of inflation, and the value of all those assets fell. Those pension funds couldn't honor their promises to the people." — Edward C. Prescott #politicsgovernment #warpeace
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After World War II, there were a lot of pension funds in Europe that were fully funded, but th…
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After World War II, there were a lot of pension funds in Europe that were fully funded, but they were pressured to hold a lot of government debt. There was a lot of inflation, and the value of all those assets fell. Those pension funds couldn't honor their promises to the people. — Edward C. Prescott
About Edward C. Prescott
Edward C. Prescott was a Economist from United States (1940–2022).
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Who said "After World War II, there were a lot of pension funds in Europe that were fully…"?
This quote is attributed to Edward C. Prescott, a Economist from United States.
When did Edward C. Prescott live?
Edward C. Prescott lived from 1940 – 2022.
What is this quote about?
This quote touches on Politics & Government, War & Peace. Browse more quotes on these themes from the categories page.