Economics Quote by Joseph Stiglitz

“In some ways the most striking novelty in Keynesian doctrine was that (abstracting from effects on foreign trade) an all-round reduction in wages would…

— Joan Robinson

Economists got away from really questioning how the world works, how decisions actually got made. If something doesn't conform to neoclassical models ... people…

— W. Brian Arthur

Two hundred years ago the first liberal economist, Adam Smith, warned businessmen that they could absorb only a certain amount of rigidity. In the…

— John Chamberlain

Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the…

— Paul Ormerod

It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate…

— Paul Krugman

Economists who studied in the '80s tend to have a pretty crude neoclassical view that's just about freeing up prices and markets, and then…

— Duncan Green

American workers have faced serious difficulties in the labor market since the first oil shock in 1973. Since that time, the pace of productivity…

— Janet Yellen

The Keynesian prescription for unemployment rests on the persistence of a 'money illusion' among workers, i.e., on the belief that while, through unions and…

— Murray Rothbard

Economy: cutting down other people's wages.

— J. B. Morton

There are simple things which would make sense. Take, say, weatherization, which would make a big cut in the unemployment rate. That's the kind…

— Noam Chomsky

Labor has been severely undermined, but that's happened before. In the 1920s, the labor movement was virtually crushed, in large part by Wilson's Red…

— Noam Chomsky

I first came into the labor force in 1941 when the minimum wage was 40 cents an hour, and that was my first job.…

— Jimmy Carter