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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.

Follow Me Written By

Edmund Phelps

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Without being aware, I think I was being indoctrinated into what was called Vitalism, the idea that what makes life worth living, the good life, consists of accepting challenges, solving problems, discovery, personal growth, personal change.

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To pump up consumer or government demand would force interest rates up and asset prices down, possibly by enough to destroy more jobs than are created.

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April 26, 2024

To pump up consumer or government demand would force interest rates up and asset prices down, possibly by enough to destroy more jobs than are created.

Previous

April 26, 2024

Without being aware, I think I was being indoctrinated into what was called Vitalism, the idea that what makes life worth living, the good life, consists of accepting challenges, solving problems, discovery, personal growth, personal change.

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