Quotessence
Home / Authors / Robert H. Frank
Robert H. Frank

Robert H. Frank Quotes

Professor

Filter quotes by topic

AllPeopleGovernmentIfsWayEconomicSpendingFactsGoalHouseJobsPercentAchieveBiggerHigherInterestMansionsPartyRelativeWasteAccepting

Famous Robert H. Frank Quotes

“We're in a classic demand-shortfall recession. There aren't enough jobs because total spending is too low. Consumers won't lead the way because they're busy paying down debt and are fearful they'll lose their jobs, if they haven't already. Businesses, which are currently sitting on mountains of cash, won't spend either, because they already have sufficient capacity to produce more than people are willing to buy.”

PeopleIfsWayEnoughJobsLosesHavensProduceWillingDemandMountainLowsSittingCapacityBusyDebtSpendingConsumersClassicSufficientCashFearfulRecessions
Author:Robert H. Frank
Create image

“For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.”

PeopleWayYearsHas BeensThreeGrowthGroupsGrewPercentPatternsDecadesIncomeRepeatsLaddersUp And DownWwii
Author:Robert H. Frank
Create image

“Many social critics wag their fingers at what they perceive to be frivolous luxury spending. But that misses the point that consumption norms are local. It's not just the rich who spend more when they get more money. Everyone else does, too. The mansions of the rich may seem over the top to people in the middle, but the same could be said of middle-class houses as seen by most of the planet's seven billion people.”

PeopleMayDoeSaidSeemsHouseSocialClassRichMiddleMissingPlanetsFingersCriticsSevenSpendingBillionsLocalsLuxuryPerceiveMiddle ClassMore MoneyConsumptionNormMansionsFrivolousOver The TopWags
Author:Robert H. Frank
Create image

“No one could argue with a straight face that the couples getting married today are much happier just because their wedding celebrations cost three times as much as those in 1980. Bigger mansions and costlier parties are wasteful in the same sense that larger antlers on all bull elk are wasteful. The good news is that simple changes in the tax system can eliminate much of this waste without having to deny people the right to decide for themselves how best to spend their money.”

PeopleTodayFacesThreeSimplePartyCoupleCostTaxesWasteMarriedNewsBiggerDenyArguingCelebrationGood NewsThree TimesBullsGetting MarriedMansionsTax SystemStraight FaceElkAntlers
Author:Robert H. Frank
Create image

“Economics, as it is often taught today, portrays us as homo economicus-someone who doesn't vote in presidential elections, doesn't return lost wallets, and doesn't leave tips when dining out of town. Julie Nelson reminds us that most people aren't really like that. She helps point the way to a richer, more descriptive way of thinking about economic life.”

PeopleThinkingWayHelpingTodayLostEconomicTaughtReturnEconomicsVoteTownsElectionPresidentialWay Of ThinkingDiningNelsonWalletsPresidential ElectionDining Out
Author:Robert H. Frank
Create image