Home / Quotes / Quote by Robert H. Frank

Quote by Robert H. Frank

“It is no exaggeration to say that rising inequality has driven many of the 99 percent into a financial ditch. It also helped spawn the housing bubble that gave us the financial crisis of 2008, the lingering effects of which have forced many OWS protesters to try to launch their careers in by far the most inhospitable labor market we've seen since the Great Depression. Even those recent graduates who manage to find jobs will suffer a lifelong penalty in reduced wages.”

Quote by Robert H. Frank

Author

Robert H. Frank

Robert H. Frank is a renowned economist born on January 2, 1945. He has conducted extensive research in various fields of economics, particularly in the areas of consumer choice, market behavior, and income distribution. Professor Frank is known for his profound insights into economics and his focus on social issues. more

You May Also Like

“Rising inequality hasn't really accomplished anything of value for its ostensible beneficiaries, the top one percent. They've all built bigger mansions and staged more lavish parties. But in so doing, they've simply raised the bar that defines what's considered adequate in these categories.”

Values Party Percent Built Bigger Raised Bars Inequality Rising Accomplished Categories Adequate Mansions Beneficiaries

Author:Robert H. Frank

“The fact that many private expenditures are mutually offsetting actually happens to constitute a remarkably good bit of fiscal news. Mutually offsetting spending patterns are wasteful in the same way that military arms races are. In such situations, if each party spends less, nothing is sacrificed, yet resources are freed up that can be put to much better uses.”

Ifs Way Facts Use Happens Bits Party Race Situation Military Arms News Resources Patterns Spending Expenditures Arms Race

Author:Robert H. Frank

“We could curtail private spending by several trillion dollars a year without requiring painful sacrifices from anyone. That would be more than enough to rebuild our crumbling infrastructure and eliminate government indebtedness once and for all.”

Years Enough Government Would Be Sacrifice Dollars Painful Spending Infrastructure Crumbling Indebtedness Crumbling Infrastructure

Author:Robert H. Frank

“If top marginal income tax rates are set too high, they discourage productive economic activity. In the limit, a top marginal income tax rate of 100 percent would mean that taxpayers would gain nothing from working harder or investing more. In contrast, a higher top marginal rate on consumption would actually encourage savings and investment. A top marginal consumption tax rate of 100 percent would simply mean that if a wealthy family spent an extra dollar, it would also owe an additional dollar of tax.”

“When people bump up against one another in the course of pursuing their goals, it is in everyone's interest to resolve any resulting problems in the least costly ways possible.”

People Way Problem Courses Goal Interest Resolve Bumps

Author:Robert H. Frank

“When the economic pie grows larger, it's always possible for everyone to have a larger slice than before. So it's really in all of our interest to make the economic pie larger by eliminating waste whenever and wherever possible.”

Grows Interest Economic Waste Pie Eliminating

Author:Robert H. Frank

“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.”

“I knew I wanted to be a writer from as far back as I can remember. That was my talent. Lord knows it wasn't math.”

Knows I Can Wanted Remember Lord Talent Math

Author:Kevin Maney

“I reluctantly signed up for a journalism major, thinking I needed a fall-back way to make money should my career as a novelist fail to take off. As I started to try on journalism, including doing internships and working at the campus paper, I found I actually liked it. So I started to want to be a journalist.”

Thinking Way Want Should Trying Fall Found Careers Failing Needed Paper Majors Including Journalism Making Money Journalist Novelists Campus Fall Back Internships

Author:Kevin Maney

“I'm that tech writer who gets on stage and plays funny tech songs. I wouldn't want that to be all I'm known for, but it's a bit of a differentiator.”

Want Play Song Bits Known Stage

Author:Kevin Maney