My co-winners, Peter Diamond and Christopher Pissarides, and I wish to thank the Royal Swedish Academy of Sciences and the Nobel Foundation for this very great honor. We each feel privileged and humbled to be named the winners of the 2010 Sveriges Ri...
In every aspect of life, including the economic dimension, we are always challenged to do the right thing. In many cases in the market system, which allows a great deal of latitude for human choice, people can get carried away to excess.
For people who are at the bottom economically, the world is becoming a harder and harder place. And yet the incentives to become rich are so great because enormous amounts of wealth are being accumulated. And so those two things, that carrot and stic...
You don't need expensive classes and all kinds of weird equipment if you really want to be in shape. There are great ways to do it that are very economical, it just takes a time commitment, even if it means waking up a half hour a day before the rest...
Health care is one-sixth of our economy. If the government can control that, they can control just about everything. We need to understand what is going on, because there are much more economic models that can be used to give us good health care than...
My father worked in a post office and never made probably more than $8,000 a year as an employee of the post office, so when people can rise up from very modest circumstances and do well economically, I think that's a good thing about America, and we...
Watch the walls come down, whether it's in the South or on Wall Street. When the walls come down, what do we find? More markets, more talent, more capital and growth. Which means that the race and sex discrimination stunt economic growth. It's not go...
You have to take away some of tax breaks for the wealthy, and you have to cut back on some entitlements. Because, unless we do all of these things, it just doesn't work. And what's good theater and what's good politics isn't necessarily good economic...
In the 1980s, we were advised, why don't you follow Reaganomics or Thatcherite economics. We said, yes, there are good points, let's see how we can fit them in the Indian economy. Every country has its own way of moving forward.
There are good people and bad people in all organizations fundamentally however, when you look at the basis of the Tea Party it has nothing to do with race. It has to do with an economic recovery. It has to do with limiting the role of our government...
If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts...
The basic idea that if you increase government spending or you cut people's taxes that stimulates the economy and lowers the unemployment rate, is a very widely accepted idea. It's in every economics textbook, that's what we teach our undergraduates,...
There's something about China and its rush to capitalism that I find confusing. At the same time, we live in an America where capitalists oppose any government interference with free markets, while in China you have a very controlled, state-planned m...
The idea of confidence, of the emotions of the population, is an incredibly important one in economics. John Maynard Keynes called it 'animal spirit.' And if people are feeling generally good about the future, they're more likely to spend money, to s...
My long struggles as a soldier of the Chinese Revolution have forced me to realize the necessity of facing hard facts. There will be neither peace, nor hope, nor future for any of us unless we honestly aim at political, social and economic justice fo...
A peaceful resolution to the Israeli-Palestinian conflict will likely depend to a great extent on the economic development of a future Palestinian state. As I have argued before, private sector investment - especially in the West Bank - is going to p...
The negotiation of city space has been made more difficult with the idea that redevelopment is an improvement for some vague future - but it's never like that, is it? Once you get there, for economic reasons you have to generate the next project - so...
To protect our country's economic future and the health and well being of all Americans, we must find a way to rein in out-of-control costs, provide quality, affordable health care choices to all, and make outrageous insurance industry abuses a thing...
Despite global economic concerns, other nations are continuing to push forward and invest in their space capabilities. A U.S. withdrawal from the industry will only allow others to surge in their own capabilities, potentially impacting our national s...
The young people I teach now know they are being sold down the river before we even start studying the trends and numbers. That's the toughest part of being a high school economics teacher... being a witness when our children realize that the greates...
To overcome poverty and the flaws of the economic crisis in our society, we need to envision our social life. We have to free our mind, imagine what has never happened before and write social fiction. We need to imagine things to make them happen. If...
