Edward Prescott

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Last quote by Edward Prescott

There are going to be financial crises, they occur, we've had them in the past – 1980, 1990, you can go back in time. They can be weathered; there are temporary disruptions. The more fundamental thing is how productive people are and how fast productivity grows because that determines how fast income grows. That's what determines the differences in our living standards, across time and across countries.feedback
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May 25 2012
Edward Prescott has most recently been quoted in an article called Astana Forum debates global economic problems. Edward Prescott said, “There are going to be financial crises, they occur, we've had them in the past – 1980, 1990, you can go back in time. They can be weathered; there are temporary disruptions. The more fundamental thing is how productive people are and how fast productivity grows because that determines how fast income grows. That's what determines the differences in our living standards, across time and across countries.”.
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