Economic growth springs from better recipes, not just from more cooking. New recipes produce fewer unpleasant side effects and generate more economic value per unit of raw material. (Paul Romer)

Economic growth springs from better recipes, not just from more cooking. New recipes produce fewer unpleasant side effects and generate more economic value per unit of raw material.

Related topics

cooking growth material per produce raw side unit value effects

Related quotes

In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth.

Martin Feldstein

The limitation upon this mode of promoting peace lies in the fact that it consists in an appeal to the civilized side of man, while war is the product of forces proceeding from man's original savage nature.

Elihu Root

We know now that in modern warfare, fought on any considerable scale, there can be no possible economic gain for any side. Win or lose, there is nothing but waste and destruction.

Lester B. Pearson

You can be discouraged by failure, or you can learn from it. So go ahead and make mistakes, make all you can. Because, remember that's where you'll find success - on the far side of failure.

Thomas J. Watson

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

Alan Greenspan