People
Edmund Phelps

Edmund Phelps photo

Edmund Phelps Quotes

Total quotes: 1

Edmund Phelps photo

Edmund Phelps

Birthname

Birthday: July 26, 1933

Birthplace: Evanston, Illinois, United States

Educated At: Yale University, Amherst College

Nationality: United States Of America

Occupations: University Teacher, Economist

Total quotes: 1

“At the simplest level, economics can better show us the consequences of our actions. Less simple are cases in which we don’t have the knowledge to predict the full consequences. Global warming and climate change are examples. Actions that we believe will remedy a perceived problem may in fact lead to an unintended consequence, as in the case of the biofuels fiasco—when people died of starvation because the demand for ethanol drove up the price of corn.”

— Edmund Phelps, Economic Justice and the Spirit of Innovation | Edmund Phelps

Tagged: Economics, Unforeseen Consequences, Theory and Practice

loading next page...