"A higher standard of living means consuming more goods and services. But it also means having more leisure time, better health, better education, a cleaner environment, safer cities, and more equality of opportunity."
Success
"Technical progress is something that happens in the economy, but the rate at which technical progress happens is not entirely determined by the pace at which new ideas are invented."
Technology
"The most important thing to understand about economic growth is that it is not a natural process."
Knowledge
"Productivity isn't everything, but in the long run it is almost everything."
Work
"You can see the computer age everywhere but in the productivity statistics."
Technology
"The residual must account for everything we are unable to measure."
Wisdom
"Economic growth is the most powerful engine of poverty reduction we know."
Success
"The accumulation of knowledge is the most reliable path to human flourishing."
Education
"What we measure matters because it shapes what we value."
Philosophy
"Technical change is never neutral in its consequences for the distribution of income."
Justice
"The economy is not separate from human nature; it flows from it."
Philosophy
"Growth without education is temporary; education without growth is unsustainable."
Education
"Long-term growth is determined by the improvement of productivity."
Work
"The future is not something that happens to us; it is something we create through our choices."
Dreams
"Institutions matter more than we often admit, and they are harder to change than we would like."
Leadership
"Capital accumulation is necessary but not sufficient for sustained growth."
Success
"The true measure of a society is how well it educates its citizens."
Education
"Innovation is not about doing something new; it is about doing something better."
Creativity
"Markets are powerful tools, but they are not infallible guides to social welfare."
Philosophy
"Time is the ultimate scarce resource."
Time
"The study of economics is valuable not primarily because it teaches you about money, but because it teaches you about human behavior."
Knowledge
"Technological progress without human wisdom is dangerous."
Wisdom
"The distribution of income is ultimately a question of justice, not merely economics."
Justice
"Every economy is an experiment in human cooperation and conflict."
Relationships
"The long run is a misleading guide to current affairs because in the long run we are all dead."
Time
"Unemployment is not a mystery; it is a choice society makes."
Politics
"Inflation is a tax on those who hold money."
Money
"The real question is not how much we produce, but how much we consume."
Life
"A good institution is one that promotes both efficiency and fairness."
Leadership
"Education is the most important investment a society can make."
Education