Edward C. Prescott

It is an established scientific fact that monetary policy has had virtually no effect on output and employment in the U.S. since the formation of the Fed.

If productivity grows, the economy does well.

Despite the impression created by some economic pundits, the U.S. economy is not a delicate little machine that needs to be fine-tuned with exact precision by benevolent policymakers to keep from breaking down.

At some point, the spectacular growth in China has to stop.

A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.