Quotes by Robert Lucas, Jr. - Page 1

Most trails can be fairly simple.
Robert Lucas, Jr. / Economist
Simple
Trails
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Solitude is an essential quality of wilderness.
Robert Lucas, Jr. / Economist
Quality
Essentials
Solitude
Wilderness
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Monetary contractions are attractive as the key shocks in the 1929-1933 years, and in other severe depressions, because there do not seem to be any other candidates.
Robert Lucas, Jr. / Economist
Attractive
Candidates
Monetary
Severe
Depressions
Shocks
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The consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.
Robert Lucas, Jr. / Economist
Economics
Economist
Thinking
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The consequences for human welfare involved in questions about human capital spillovers are simply staggering. Once one starts to think about them, it's hard to think of anything else
Robert Lucas, Jr. / Economist
Economics
Thinking
Welfare
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The central predictions of the quantity theory are that, in the long run, money growth should be neutral in its effects on the growth rate of production and should affect the inflation rate on a one-for-one basis.
Robert Lucas, Jr. / Economist
Effects
Inflation
Predictions
Quantity
Rate
Neutral
Affect
Central
Growth Rate
Long Run
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The potential gains from improved stabilization policies are on the order of hundredths of a percent of consumption, perhaps two orders of magnitude smaller than the potential benefits of available supply-side fiscal reforms.
Robert Lucas, Jr. / Economist
Order
Reform
Two
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From the beginnings of modern monetary theory, in David Hume's marvelous essays of 1752, 'Of Money and Of Interest,' conclusions about the effect of changes in money have seemed to depend critically on the way in which the change is effected.
Robert Lucas, Jr. / Economist
Essays
Marvelous
Monetary
Theory
David
Beginnings
Changes
Conclusions
Critically
Depend
Effect
Seemed
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My parents were admirers of President Roosevelt and the New Deal. Their parents and most of our relatives and neighbors were Republicans, so they were self-conscious in their liberalism and took it as emblematic of their ability to think for themselves.
Robert Lucas, Jr. / Economist
Liberalism
New Deal
Self Conscious
Admirers
Republicans
Neighbors
Relatives
Roosevelt
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I was born in 1937, in Yakima, Washington, the oldest child of Robert Emerson Lucas and Jane Templeton Lucas. My sister Jenepher was born in 1939 and my brother Peter in 1940. My parents had moved to Yakima from Seattle to open a small restaurant, The Lucas Ice Creamery.
Robert Lucas, Jr. / Economist
Sister
Born
Brother
Ice
Jane
Moved
Peter
Seattle
Child
Washington
Emerson
Small
Parents
Lucas
Oldest
Restaurant
Robert
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I obtained a Woodrow Wilson Doctoral Fellowship and entered the graduate program in History at the University of California. With no Greek or French and minimal Latin and German, I was in no position to pursue my classical interests, so I began work at Berkeley with little more than an open mind.
Robert Lucas, Jr. / Economist
Berkeley
California
Fellowship
Latin
Open Mind
Position
Program
Pursue
University
Wilson
German
Began
Classical
French
Entered
Graduate
Interests
Minimal
Obtained
The Graduate
University Of California
Woodrow
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The observation that money changes induce output changes in the same direction receives confirmation in some data sets but is hard to see in others. Large-scale reductions in money growth can be associated with large-scale depressions or, if carried out in the form of a credible reform, with no depression at all.
Robert Lucas, Jr. / Economist
Confirmation
Credible
Data
Large Scale
Observation
Output
Associated
Carried
Depressions
Induce
Receives
Reductions
Same Direction
Sets
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I was good at math and science, and it was expected that I would attend the University of Washington in Seattle and become an engineer. But by the time I was seventeen, I was ready to leave home, a decision my parents agreed to support if I could obtain a scholarship. MIT did not grant me one, but the University of Chicago did.
Robert Lucas, Jr. / Economist
Chicago
If I Could
Math
Math And Science
Mit
Scholarship
Seattle
Seventeen
Agreed
Attend
By The Time
Science Time Good
Grant
Obtain
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Robert Lucas, Jr. Quotes - Page 1

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