“Random distributions are not good things, because people are risk-aver...” — Edward C. Prescott Quote

“Random distributions are not good things, because people are risk-averse, and this risk adversely affects their welfare. If you get too much price uncertainty, all kinds of long-term, mutually beneficial contracts can't be entered into.”

“In the Great Depression, employment and investment were low because labor market institutions and industrial polices changed.”

“In the category of economic superpowers, more is better than less - the more technology those leaders develop, the more we all benefit.”

“I've started to get iritis, which affects the eyes. But I'm not going to give in.”

“What turned me on then, and turns me on even today - and when the time comes from me to retire from management I think I'd still be interested in it - is that everything that happens in the world affects the price of securities.”

“He has called for a repeal of the Fifth Amendment as it affects the right of private property.”