Lars Feld Quotes

Economists largely confine themselves to three key factors - capital, labor and productivity - when explaining how and why a country grows.

That the way to achieve higher standards of living for all is through science and technology, taking advantage of better tools, methods and organization.

Regardless of how it is funded, consumption does not increase productivity; investment and innovation do.

While China succeeded in transferring nearly 150 million people from agriculture to manufacturing, we could not do so, due to lack of skilled manpower.

In this time of budget cuts, we cannot forget that basic science is a building block for scientific innovation and economic growth in the information age.

India's growth drivers are actually two growth drivers. One is consumption, which arises out of our demographic advantage. And the other is the investments. Because we need a lot of investment in the country.

East Asia has prospered since the end of the Vietnam War, and Northeast Asia has prospered since the end of the Korean War in a way that seems unimaginable when you think of the history of the first half of the century.

Mass prosperity came with the mass innovation that sprung up in 1815 in Britain, soon after in America, and later in Germany and France: It brought sustained growth to these nations - also to nations with entrepreneurs willing and able to copy the innovations.

You can't be a first-world economy in the 21st century if you haven't laid the groundwork to seize the opportunities.

Africa is no more this poor continent. It's on the march.

The only way you get economic progress, real standards of living moving higher, is to have the savings of the society continuously invested in the cutting-edge technologies. And those technologies which are obsolescent get dropped out.

When ministers in this government talk about investing in education and skills, about making the planning system work; about employment law reform and delivering transport and power generation and broadband communication infrastructure, we are talking about raising Britain's productivity.

As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.

So if we are really concerned about generating more taxes, we ought to be investing in our people, not taking away the kinds of resources that contribute to their ability to become greater taxpayers in this country.

Turkey is a model of economic and social development, especially in terms of human resources and regional cooperation.

We do need an attitude of leadership in our government which demonstrates faith in major population centres outside of Perth.

The close relationship between railroad expansion and the genera development and prosperity of the country is nowhere brought more distinctly into relief than in connection with the construction of the Pacific railroads.

At the same time, we are keenly aware that China is still the largest developing country in the world and we need to make long and hard efforts if we are to build a moderately prosperous society in all respects and basically achieve modernization.

The states should have much more responsibility for infrastructure building.

The world view of economic development has completely changed: it is no longer believed to be driven by human labour, as Karl Marx said, or by capital, as Alfred Marshall stated, but is knowledge-driven.

Long-term economic growth depends mainly on nonmonetary factors such as population growth and workforce participation, the skills and aptitudes of our workforce, the tools at their disposal, and the pace of technological advance. Fiscal and regulatory policies can have important effects on these factors.

We are looking at how you change the relationship between central and local government and how to use public resources to the best effect at the local level.

It's private enterprise that can create jobs and fill them. It's business that can train people and make them productive tax-payers. And it's America Inc. that has the most to gain from tapping this extraordinary human resource.

It is time to give city and county regions the powers and resources they need to promote growth, and I will happily work with all of those who are genuinely committed to building an economic powerhouse in the north.

In the U.S., a lot of small manufacturers are pretty good. I don't see any reason why India won't make the same progress in manufacturing as it did in services.