Phrase by 'Robert J. Shiller'
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I think that a lot of people in all walks of life have the impression, of course, that, 'I specialize in something. I can't - I don't have the time to read other things. I'll just go to pure entertainment when I'm relaxing, and then I'll come back to my pure specialty.' That produces - that attitude produces idiot savants, unfortunately.
Author: Robert J. Shiller - American EconomistLife , People , Time , Attitude
Any time you have change, it costs somebody. Somebody is a loser.
Author: Robert J. Shiller - American EconomistYou , Time , Change , Loser
Those on the downside of rising economic inequality generally do not want government policies that look like handouts. They typically do not want the government to make the tax system more progressive, to impose punishing taxes on the rich, in order to give the money to them. Redistribution feels demeaning. It feels like being labeled a failure.
Author: Robert J. Shiller - American EconomistLook , Money , Failure , Government
If we wait until income inequality is much more severe, we will have a whole class of new superrich who will probably feel entitled to their wealth and will have the means to defend their interest. That's already gone far enough. We shouldn't let it become more extreme.
Author: Robert J. Shiller - American EconomistNew , Feel , Wait , Wealth
Trump's victory clearly appears to stem from a sense of economic powerlessness, or a fear of losing power, among his supporters. To them, his simple slogan, 'Make America great again,' sounds like 'Make You great again': economic power will be given to the multitudes without taking anything away from the already successful.
Author: Robert J. Shiller - American EconomistYou , Simple , Fear , Power
The desperately poor may accept handouts, because they feel they have to. For those who consider themselves at least middle class, however, anything that smacks of a handout is not desired. Instead, they want their economic power back.
Author: Robert J. Shiller - American EconomistFeel , Back , Poor , Power
Speculative markets have always been vulnerable to illusion. But seeing the folly in markets provides no clear advantage in forecasting outcomes, because changes in the force of the illusion are difficult to predict.
Author: Robert J. Shiller - American EconomistAlways , Difficult , Changes , Illusion
A moderate tax on robots, even a temporary tax that merely slows the adoption of disruptive technology, seems a natural component of a policy to address rising inequality. Revenue could be targeted toward wage insurance, to help people replaced by new technology make the transition to a different career.
Author: Robert J. Shiller - American EconomistPeople , New , Technology , Insurance
Fifty years ago or a hundred years ago, generally, most people would buy a house the way you buy a car. When you buy a car, do you think, 'I better buy this year rather than next year because car prices might go up?'
Author: Robert J. Shiller - American EconomistYou , People , Better , Car
What would be better, that people build big houses thinking that they'll make capital gains or that they send their children to medical school and they do research on curing diseases? When you put it that way, it seems obvious. There has developed a sense of personal worth that's tied to one's house.
Author: Robert J. Shiller - American EconomistYou , People , Children , Thinking
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