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I attended Amherst College from 1951 to 1955. The first two years were a revelation. There were innumerable exchanges with brilliant classmates, among them the playwright Ralph Allen, the classics scholar Robert Fagles, and the composer Michael Sahl.


Edmund Phelps

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Cease with the displays of false modesty. The entire palace knows about it."
A feeling of warmt...
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More Edmund Phelps

When I was in college at Amherst, my father asked me a favor: to take one course in economics. I lov...
EDMUND PHELPS
The level of dynamism is a matter of how fertile the country is in coming up with innovative ideas h...
EDMUND PHELPS
Most of the big banks were shot through with short-termism, deceptive practices and self-dealing. We...
EDMUND PHELPS
I just think that the Europeans are depriving themselves of a high-employment economy, and they are ...
EDMUND PHELPS
Expertise and judgment in the art of lending for novel ventures must be reacquired.
EDMUND PHELPS
One reason why upturns follow downturns is that downturns tend to overshoot. People get panicky, the...
EDMUND PHELPS
The main cause of Europe's deep fall - the losses of inclusion, job satisfaction and wage growth...
EDMUND PHELPS
In the 1960s, and stretching back to the 1930s, it was felt by many economists that easy money is a ...
EDMUND PHELPS
Economics has paid a terrible price for its dalliances with the Keynesian and neoclassical theories.
EDMUND PHELPS
Everybody feels better about himself, his community, and his country if employers are paying workers...
EDMUND PHELPS
To prosper and advance, the American business sector is going to need a financial system oriented to...
EDMUND PHELPS
Unemployment determination in a modern economy was the main subject area of my research from the mid...
EDMUND PHELPS
The good life, as it is popularly conceived, typically involves acquiring mastery in one's work,...
EDMUND PHELPS
Without being aware, I think I was being indoctrinated into what was called Vitalism, the idea that ...
EDMUND PHELPS
After a major loss of dynamism in the 1960s, productivity growth rates began dropping in most countr...
EDMUND PHELPS
If every effect of any new products or methods were required to be known before they could be produc...
EDMUND PHELPS
No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity...
EDMUND PHELPS
I grew up thinking that renting is perfectly normal. And then, strangely enough, I never did buy a h...
EDMUND PHELPS
I could try to incorporate or reflect in my models what it is that an employee, manager, or entrepre...
EDMUND PHELPS
The fallacy of the neoclassicals is their tenet that total employment, though hit by shocks, can be ...
EDMUND PHELPS
A modern economy is marked by the feasibility of endogenous change: Modernization brings myriad arra...
EDMUND PHELPS
The best part of the high school in Hastings must have been the Music Department. Its orchestra and ...
EDMUND PHELPS
I started to think about what drives innovation and what its social significance might be. The next ...
EDMUND PHELPS
I didn't do my work for money or prizes - only for the excitement of discovery.
EDMUND PHELPS
My view is that innovation has declined in the everyday processes that businesses tinker with increm...
EDMUND PHELPS
Democrats and Republicans have been very keen to make home ownership almost a national purpose.
EDMUND PHELPS
In Greece, Italy and, to a lesser extent, France, unsustainable tax cuts and spending sprees added t...
EDMUND PHELPS
There's such a preoccupation with liquidity and such an unwillingness to invest beyond the horiz...
EDMUND PHELPS
As a grandson of farmers in downstate Illinois, I have long admired the dedication of farmers to the...
EDMUND PHELPS
I'm not attacking the idea that people live in conglomerations of houses in proximity to one ano...
EDMUND PHELPS
Narrow banks could restart effective intermediation and ensure that consumers and employment-creatin...
EDMUND PHELPS
In countries operating a largely capitalist system, there does not appear to be a wide understanding...
EDMUND PHELPS
Chancellor Angela Merkel and Wolfgang Schaeuble, her finance minister, are right to oppose fiscal an...
EDMUND PHELPS
The need to encourage entrepreneurship and ensure that young people have the opportunity to start ne...
EDMUND PHELPS
I'm hoping that the administration and other thought leaders will succeed eventually in bringing...
EDMUND PHELPS
Economists of a classical bent lay a large part of the decline of employment, and thus lagging outpu...
EDMUND PHELPS
In societies where one sees a higher prevalence of 'modern values' - individualism, vitalism...
EDMUND PHELPS
The 1920s and 1930s were a period of sensational productivity growth: new products were springing up...
EDMUND PHELPS
What brought mass innovation to a nation was not scientific advances - its own or others' - but ...
EDMUND PHELPS
I'm old enough to remember in the 1930s and the 1940s when thrift, frugality, was considered an ...
EDMUND PHELPS
Those of us born into vitalist and expressionist cultures must hope that governments will draw back ...
EDMUND PHELPS
I've lived to see key parts of my research absorbed in textbooks and in central banks around the...
EDMUND PHELPS
Entrepreneurs have only the murkiest picture of the future in which they are making their bets, and ...
EDMUND PHELPS
Disciples of Keynes, who focus on aggregate demand, view any increase in household wealth as raising...
EDMUND PHELPS
Raising the minimum wage seems to all economists to, at the very least, fail to 'raise' empl...
EDMUND PHELPS
Some economists believe that the Greeks' work ethic and thrift can pull them through. But the cl...
EDMUND PHELPS
In America, black urban teenagers have long been lacking in inclusion. In France, there is a compara...
EDMUND PHELPS
At the simplest level, economics can better show us the consequences of our actions. Less simple are...
EDMUND PHELPS
An indictment of entitlements has to focus on the huge 'social wealth' that the welfare stat...
EDMUND PHELPS
Capitalist systems function less well without state protection of investors, lenders, and companies ...
EDMUND PHELPS
When the word 'morality' comes up in connection with economics, income distribution and fina...
EDMUND PHELPS
My thinking has always been that the worst problem we have with regard to lack of inclusion is the t...
EDMUND PHELPS
Corporatist attitudes against capitalism came to the fore in the 1920s. Corporatists, with their con...
EDMUND PHELPS
Things can get only so bad. People want to eat, so at some point they resist further cuts to their c...
EDMUND PHELPS
America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few ...
EDMUND PHELPS
Germany, Italy and France appear to possess less dynamism than do the U.S. and the others.
EDMUND PHELPS
In essence, capitalist systems are a mechanism by which economies may generate growth in knowledge -...
EDMUND PHELPS
For decades, my research was driven by outstanding problems in macroeconomics: mainly growth theory ...
EDMUND PHELPS
A nation's economy is more than its markets, tastes, technologies and property rights.
EDMUND PHELPS
Workers in decent jobs view the economy as unjust if they or their children have virtually no chance...
EDMUND PHELPS
Mass prosperity came with the mass innovation that sprung up in 1815 in Britain, soon after in Ameri...
EDMUND PHELPS
The Keynesian belief that 'demand' is always at the root of underemployment and slow growth ...
EDMUND PHELPS
It's cool just because I've had this dream of changing the sport of swimming and it's fi...
MICHAEL PHELPS
I think the biggest things I am looking forward to is getting new faces into the sport. Getting kids...
MICHAEL PHELPS
I want to be able to look back and say, 'I've done everything I can, and I was successful.&#...
MICHAEL PHELPS
I try to separate my personal life from swimming.
MICHAEL PHELPS
I want to test my maximum and see how much I can do. And I want to change the world of swimming.
MICHAEL PHELPS
I still remember the days, not wanting to see anybody, not wanting to talk to anybody, really not wa...
MICHAEL PHELPS
We're pleased to put this behind us. This has been two years of turmoil and bullying by this union.
CASSANDRA PHELPS
Swimming is more than a once-every-four-years sport. My goal is to bring attention to swimming - to ...
MICHAEL PHELPS
I have the opportunity to be part of swimming history. To take the sport to a new level would be an ...
MICHAEL PHELPS
When the Australians walked out, the crowd went nuts, and when we walked out, the crowd went even mo...
MICHAEL PHELPS
I want to be able to look back and say, 'I've done everything I can, and I was successful.' I don't ...
MICHAEL PHELPS
My goal is one Olympic gold medal. Not many people in this world can say, 'I'm an Olympic go...
MICHAEL PHELPS
They have a quick team, and our block was almost ineffective. It wasn't that we were doing anything ...
TONY PHELPS
We wanted to see how close we could get to the world record. We'll take that for right now.
MICHAEL PHELPS
I'm a little worried about the work. It's a big step up from high school.
MICHAEL PHELPS
It’s the Olympics. If you can’t get up to swim early in the morning, don’t go.
MICHAEL PHELPS
We did the same thing to them. We went to (John Paxson) and 'Pax' was covered and Jimmy Dolan made t...
DIGGER PHELPS
I listen to music before my competitions to get me pumped up. It helps me stay focused.
MICHAEL PHELPS
I sang there as a child and through high school, ... My goal is to give people hope at any given nig...
DAVID PHELPS
Members are very much scrambling to see what's going to happen,
DAVID PHELPS
Let's get serious. Glen Davis, he's so tough in the paint. They can't handle him.
DIGGER PHELPS
Everybody was pumped up the first week. We had lots of volunteers in the beginning. Now the sense of...
HAAN PHELPS
It's a real energy taker. It's not our job to do this. It's not that we don't want to do it, but it'...
HAAN PHELPS
The rapid pace of appreciation and other negatives has made housing become very unaffordable. About ...
JACK PHELPS
Things like that happen to you on the train, and you feel like you are glad to be in the right place...
RAMONA PHELPS
Conscience has nothing to do as lawgiver or judge; but is a witness against me if I do wrong, and wh...
ARTHUR PHELPS
It doesn't matter what else is going on. When you walk into your arena or your - whatever you ex...
MICHAEL PHELPS
This is my 20th year in the sport. I've known swimming and that's it. I don't want to sw...
MICHAEL PHELPS
I think sometimes I guess you see records, say you want to get there and use that as motivation. In ...
MICHAEL PHELPS
The more you dream the more you achieve.
MICHAEL PHELPS
I think everybody pees in the pool. It's kind of a normal thing to do for swimmers.
MICHAEL PHELPS
I think goals should never be easy, they should force you to work, even if they are uncomfortable at...
MICHAEL PHELPS
And, you know, being able to wear the stars and stripes, when you step up on one of the blocks or, y...
MICHAEL PHELPS
Every day after I wake up, I think, 'Wait... this can't be real; I'm still going to wake up.'
MICHAEL PHELPS
Bob has clearly stated that he's dropping the bomb on me, ... Hopefully we can change a few things i...
MICHAEL PHELPS
I was really hurting pretty bad the final 75 meters, I was definitely in pain, ... My body has been ...
MICHAEL PHELPS
The consciousness of Divine friendship in devotion, so far from being impaired, is deepened by holy ...
AUSTIN PHELPS
One goal for us is that we want the conference back. It'll be a task, though.
TONY PHELPS
I'd rather learn from winning than from losing, but hopefully we'll be a better team. Playing the wa...
TONY PHELPS
He just got out of the 100m fly, so I had a little advantage. But you know he's going to put somethi...
MICHAEL PHELPS
We let one slip away. We competed very well but the last two or three points we couldn't get the pla...
TONY PHELPS
You can't put a limit on anything. The more you dream, the farther you get.
MICHAEL PHELPS
They have a quick team, and our block was almost ineffective, ... It wasn't that we were doing anyth...
TONY PHELPS
The mystique of this game ... its just been eerie around here all week. When we beat UCLA, you just ...
DIGGER PHELPS
If I bring back only one gold people are going to say it's a disappointment. But not too many of...
MICHAEL PHELPS
Essentially, ... we learned after the 2004 permit was issued that virtually all of the existing slip...
JOHN PHELPS
believed it was necessary to amend the permit because the permit granted in July of 2004 was based o...
JOHN PHELPS
Before this year I hardly raced for the past couple of years. I'm just trying to get back into it an...
DANYELLE PHELPS
Something in life inspires me, ... I have a song on my new record, 'Visions of God,' about my kids a...
DAVID PHELPS
We incorporated in '97 and started working it really heavy in 2000, ... The main reason for our grow...
DAVID PHELPS
That's what happens where you have a fail-safe district.
DAVID PHELPS
If this happens, this is time for Steve to make that move.
DIGGER PHELPS
The act hadn't been enforced and it was kind of a paper tiger. This will just potentially allow any ...
GREGORY PHELPS
Utilities had been trading in sympathy with energy producers all year. Both sectors had a great run ...
GREGORY PHELPS
We are providing a sanctuary for God's people. You don't hear sirens and police cars going up and do...
HAAN PHELPS
It's ridiculous. These are actually people who ride and show here.
MASON PHELPS
Swimming is normal for me. I'm relaxed. I'm comfortable, and I know my surroundings. It'...
MICHAEL PHELPS
I can only control my own performance. If I do my best, then I can feel good at the end of the day.
MICHAEL PHELPS
I've always been fortunate in that I've been able to put myself in my own zone and relax. It comes n...
MICHAEL PHELPS
There is a one woman in China that claimed she paid $50 to get my e-mail address. It was pretty shoc...
MICHAEL PHELPS
We only have so many soccer fields and we basically have to cut it off at a certain number because w...
JOHN PHELPS
Swimming is normal for me. I'm relaxed. I'm comfortable, and I know my surroundings. It's my home.
MICHAEL PHELPS
I love to race the best people in the world and the fastest people in the world.
MICHAEL PHELPS
The man who makes no mistakes does not usually make anything.
EDWARD PHELPS
This is an example of this change and the fear that it puts in the hearts and minds of independent p...
CASSANDRA PHELPS
This was a hard decision but a stand we had to take to put an end to these continued strikes and thr...
CASSANDRA PHELPS
We're eager to have our readers be able to read the newspaper in 18 to 19 minutes. My wife calls it ...
MICHAEL PHELPS
It's great for us coming off an Olympics to have a team like this.
MICHAEL PHELPS
I felt I was passing the torch from one generation to the next.
SHERRY PHELPS
We had too many errors and we missed six serves, three in the third game, which was just huge, ... W...
TONY PHELPS
They have an outstanding team. I wouldn't be surprised if they brought home a state championship.
TONY PHELPS
These figures suggest that a large number of smokers are purchasing their cigarettes through alterna...
BILL PHELPS
Well, that's too bad, isn't it? They think I can't preach at times like this? I think I can preach a...
FRED PHELPS
But those filters are no longer made of cotton. There are over 90 active toxins in cigarette filters...
RALPH PHELPS
It's never easy at the Olympic level. Russia, Romania and China always are contenders.
JAYCIE PHELPS
They're going to get eight teams in every year. You just want to get in the hunt. You can be a 5 see...
DIGGER PHELPS
We'd stay at the Hyatt and I'd go up to that church up there across the street from the river. Oh ma...
DIGGER PHELPS
Their parents still need care and it's important for us to provide that wholesome place for kids to ...
DAVE PHELPS
I have a wonderful wife,
DAVID PHELPS
When we crunch numbers for 1999, we may see a corresponding increase between sales and piracy in tha...
DAVID PHELPS
If I had a conviction strong enough to make a promise to my constituents, I believe I'd stick to it,
DAVID PHELPS
While Florida has been an incredible job engine, wage and income growth has been relatively soft.
JACK PHELPS
They don't have any room. There's no place to put these horses.
MASON PHELPS
We heard a soldier from Ashland, Ky., was killed, so I imagine we'll be back soon.
MARGIE PHELPS
My job in this, the last of the last days, is to show America her abomination. What we're supposed t...
MARGIE PHELPS
They shut down our 3s; shut down our outside game and then doubled on Ashley and I said, 'girls, you...
PAUL PHELPS
I have the opportunity to be part of swimming history. To take the sport to a new level would be an ...
MICHAEL PHELPS
You can't put a limit on anything. The more you dream, the farther you get.
MICHAEL PHELPS
I won't predict anything historic. But nothing is impossible.
MICHAEL PHELPS
Capitalism and communism stand at opposite poles. Their essential difference is this: The communist,...
--PHELPS ADAMS
Wear the old coat and buy the new book.
AUSTIN PHELPS
I feel most at home in the water. I disappear. That's where I belong.
MICHAEL PHELPS
Every sponsor I've had has been something that fit my lifestyle, fit my personality.
MICHAEL PHELPS
I know it won't be eight medals again. If you want to compare me to that, that's your decisi...
MICHAEL PHELPS
I'm a Dunkin' Donuts kind of guy. I also like Cadbury's.
MICHAEL PHELPS
If you want to be the best, you have to do things that other people aren't willing to do.
MICHAEL PHELPS
I think that everything is possible as long as you put your mind to it and you put the work and time...
MICHAEL PHELPS
The contract we agreed upon was not that different from the one that we've proposed all along. It's ...
CASSANDRA PHELPS
That's the most pain I've ever been in after a 200. It's exhaustion more than anything.
MICHAEL PHELPS
These figures suggest that a large number of smokers are purchasing their cigarettes through alterna...
BILL PHELPS
Cigarette taxes are an unstable source of revenue.
BILL PHELPS
I'm pretty optimistic. We are not really tall or flashy, but are fundamentally sound. We have a majo...
TONY PHELPS
She was on fire at the end of the season. The last half of the year is what gained her the All-South...
TONY PHELPS
I have reached a place in my life where I need to sit down and say, 'Well, what do I do? What's best...
MICHAEL PHELPS
I don't like to be second in anything. I was trying, I just wasn't going anywhere.
MICHAEL PHELPS
I looked over and I thought 'Oh, man, I've got Roland again?'
MICHAEL PHELPS
By trying to get revenue in this way, this has a lot of risk. It could put some important things in ...
BILL PHELPS
That's an indication I'm sort of starting to fade.
MICHAEL PHELPS
It was very tough doubling up but I've got no regrets. I was just destroyed (in the 100m) but I just...
MICHAEL PHELPS
It's a very good time to be in steel.
DAVE PHELPS
Life Is A Church
DAVID PHELPS
I want to go to the World Cup. I want to go to the Masters. I want to go... anywhere.
MICHAEL PHELPS
This nation is poised to trash the first amendment just to stop my preaching. I'm kind of honored.
FRED PHELPS
This is not a restaurant. They can't come in here and order New Orleans shrimp, because I don't know...
HAAN PHELPS
This may start to pinch some consumers' wallets.
JACK PHELPS
Bob and I have gotten into it a number, number of times.
MICHAEL PHELPS
You always know he's going to put something together, ... He's got some speed, but we were able to h...
MICHAEL PHELPS
I think to be - for me to be an American is - you know, it's one of the greatest things in the w...
MICHAEL PHELPS
The last 20 meters weren't very good, they didn't feel good,
MICHAEL PHELPS
There were times I wouldn't come to practice, because it didn't excite me. It wasn't int...
MICHAEL PHELPS
Being compared to Ian Thorpe, that could be one of the greatest compliments you could ever get in sw...
MICHAEL PHELPS
(Spence) is vastly different in that he's very cavalier but incredibly professional,
PETER PHELPS
A lot of new obstacles are coming, a lot of new feelings are coming, ... I'm just taking it for what...
MICHAEL PHELPS
Housing and commercial real estate have been a very important part of the economy in the Southeast a...
JACK PHELPS
The industry has performed very well. We've seen record levels of profitability.
JACK PHELPS
He's gone after six weeks, but his story-line sends him off to Somalia and he will eventually come b...
PETER PHELPS
Having a private training ring for someone like Georgina is important. Imagine training for figure s...
MASON PHELPS
I like to just think of myself as a normal person who just has a passion, has a goal and a dream and...
MICHAEL PHELPS
People say to me, 'You're so lucky. You get to see the world.' But I don't. I go to ...
MICHAEL PHELPS
Even in high school, I'd tell my mom I was sick of swimming and wanted to try to play golf. She ...
MICHAEL PHELPS
I got a Cadillac Escalade. Put some rims on it, threw a couple TV's in there, and installed a sy...
MICHAEL PHELPS
Are you living for the things you are praying for?
AUSTIN PHELPS
Well, that's too bad, isn't it? They think I can't preach at times like this? I think I can preach a...
FRED PHELPS
I wouldn't say anything is impossible. I think that everything is possible as long as you put your m...
MICHAEL PHELPS
I'm satisfied in a way because it was an eye-opener,
MICHAEL PHELPS
We wanted to split our relays up and see what would happen, ... It was a good way to end the meet.
MICHAEL PHELPS
That's the most pain I've ever been in after a 200. It's exhaustion more than anything.
MICHAEL PHELPS
I won't predict anything historic. But nothing is impossible.
MICHAEL PHELPS