--- title: "Meaning & Key Takeaway of: To investors, job creation is a…" description: "\"To investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great..." image: "https://sms4smile.com/quotes/i/011/amity-shlaes-9137_business_to-investors-job-creation-is-a-second-or_595150.jpg" --- # To investors, job creation is a second-order effect… ![“To investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government.” quote by Amity Shlaes](https://sms4smile.com/quotes/i/011/amity-shlaes-9137_business_to-investors-job-creation-is-a-second-or_595150.jpg) [Download](https://sms4smile.com/quotes/i/011/amity-shlaes-9137_business_to-investors-job-creation-is-a-second-or_595150.jpg) [Open image](https://sms4smile.com/quotes/i/011/amity-shlaes-9137_business_to-investors-job-creation-is-a-second-or_595150.jpg) > “To investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government.” [Amity Shlaes](https://sms4smile.com/quotes/author/amity-shlaes/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Investors prioritize macroeconomic stability over job creation; government solvency is key. **In simple terms:** Investors care about government debt stability. Key Takeaway Consider long‑term fiscal health. Themes economics investment government debt macro policy bond markets Mood analytical concerned Type financial economic When to use this quote - portfolio management - policy analysis - financial planning - public debt discussions Key Concepts Fiscal sustainability risk assessment monetary policy Questions to Reflect On - How does debt affect bond prices? - What policies improve solvency? A Different Perspective Market focus can ignore short‑term employment impacts. ★ ★ ★ ★ ★ No ratings yet [Business](https://sms4smile.com/quotes/about/business/) [Care](https://sms4smile.com/quotes/about/care/) [Company](https://sms4smile.com/quotes/about/company/) [Creation](https://sms4smile.com/quotes/about/creation/) [Customer](https://sms4smile.com/quotes/about/customer/) [Effect Market](https://sms4smile.com/quotes/about/effect-market-1599567/) [Firsts](https://sms4smile.com/quotes/about/firsts/) [Government](https://sms4smile.com/quotes/about/government/) [Interest](https://sms4smile.com/quotes/about/interest/) [Interest rate](https://sms4smile.com/quotes/about/interest-rate/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investors](https://sms4smile.com/quotes/about/investors/) [Investors Job](https://sms4smile.com/quotes/about/investors-job-4862796/) [Job creation](https://sms4smile.com/quotes/about/job-creation/) [Jobs](https://sms4smile.com/quotes/about/jobs/) [Long](https://sms4smile.com/quotes/about/long/) [Long term](https://sms4smile.com/quotes/about/long-term/) [Order](https://sms4smile.com/quotes/about/order/) [Order Effect](https://sms4smile.com/quotes/about/order-effect-4059298/) [Participants](https://sms4smile.com/quotes/about/participants/) [Rate](https://sms4smile.com/quotes/about/rate/) [Solvency Bond](https://sms4smile.com/quotes/about/solvency-bond-4862797/) [Term](https://sms4smile.com/quotes/about/term/) [Three](https://sms4smile.com/quotes/about/three/) ## Related quotes > [Another discovery which came out of my investigation was the fact that when one gives his or her order to produce a definite result…](https://sms4smile.com/quotes/alexander-graham-bell/another-discovery-which-came-out-of-my-investigation-was-the-fact/) [Alexander Graham Bell](https://sms4smile.com/quotes/author/alexander-graham-bell/) > [“How can institutional investors hope to outperform the market... when, in effect, they are the market?”](https://sms4smile.com/quotes/charles-d-ellis/how-can-institutional-investors-hope-to-outperform-the-market-when-in/) [Charles D. 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