Chance Quote by Michael Spence
“Although everyone does benefit from lower-priced goods and services, people also care greatly about the chance to be productively employed and the quality of their work. Declining employment opportunities feel real and immediate; the rise in real incomes brought by lower prices does not.”
About This Quote
People value employment and work quality more than just low prices; job security feels immediate while price‑driven income gains are abstract.
In simple terms: Jobs matter more than cheap stuff.
Prioritize stable, meaningful work.
Themes
Mood
Type
When to use this quote
- career planning
- policy making
- business strategy
- personal finance
Key Concepts
Questions to Reflect On
- How can societies balance price benefits with job creation?
- What policies can improve work quality?
Lower prices alone won’t solve job scarcity.