Edmund Phelps Quotes
Things can get only so bad. People want to eat, so at some point they resist further cuts to their consumption - it's not a bottomless pit.
Topics
Quality Of Life
Basic Needs
Economic Security, Economic Insecurity, Financial Security, Financial Insecurity
Bad People
Poverty Line
Social Injustice
Consumption Limits
Consumption Reduction
Economic Hardship
Economic Inequality
Financial Hardship
Financial Limits
Human Resilience
Poverty Threshold
Survival Instinct
Survival Needs
Economic Resistance
Citations
Phelps, Edmund S. "Quack Cures for the Global Slump." Project Syndicate, 29 Dec. 2008.
Related Quotes
Edmund Strother Phelps (born July 26, 1933) is an American economist and the recipient of the 2006 Nobel Memorial Prize in Economic Sciences.