Edward C. Prescott

Multinational companies use their technological know-how in their foreign subsidiaries, so reciprocal multinational relationships are key - they lead to a vested…

— Edward C. Prescott

Of all the thankless jobs that economists set for themselves when it comes to educating people about economics, the notion that society…

— Edward C. Prescott

Despite the impression created by some economic pundits, the U.S. economy is not a delicate little machine that needs to be fine-tuned…

— Edward C. Prescott

There is an old maxim which states that good judgment comes from experience, and experience comes from poor judgment. I think something…

— Edward C. Prescott

The money is nice, but I am not in this game for the money.

— Edward C. Prescott

In the Great Depression, employment was not low because investment was low. Employment and investment were low because labor market institutions and…

— Edward C. Prescott

Random distributions are not good things, because people are risk-averse, and this risk adversely affects their welfare. If you get too much…

— Edward C. Prescott

If productivity grows, the economy does well.

— Edward C. Prescott

Sometimes pessimism or optimism gets popular, and it's contagious.

— Edward C. Prescott

In the Great Depression, employment and investment were low because labor market institutions and industrial polices changed.

— Edward C. Prescott

Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens.

— Edward C. Prescott

Economic integration is the path to riches and peace.

— Edward C. Prescott

You can't spend your way to prosperity.

— Edward C. Prescott

At some point, the spectacular growth in China has to stop.

— Edward C. Prescott

A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.

— Edward C. Prescott

In the category of economic superpowers, more is better than less - the more technology those leaders develop, the more we all…

— Edward C. Prescott

After World War II, there were a lot of pension funds in Europe that were fully funded, but they were pressured to…

— Edward C. Prescott

Progess, do not regress.

— Edward C. Prescott

I find it remarkable that virtually all of the large difference in labor supply between France and the United States is due…

— Edward C. Prescott

Monetary policy causes booms and busts.

— Edward C. Prescott

The Chinese are saving like mad, but they are not getting a very good return on their savings.

— Edward C. Prescott

I love creating models and coming up with explicit structures I can play with.

— Edward C. Prescott

The purpose for a tax system is to collect needed revenue at the least cost to the people.

— Edward C. Prescott

It is an established scientific fact that monetary policy has had virtually no effect on output and employment in the U.S. since…

— Edward C. Prescott

You need a real crisis before you have reforms.

— Edward C. Prescott