The epic story of the West is the development in the 19th century of a mass prosperity the world had never seen and its near-disappearance in one nation after another in the 20th.

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• Edmund Phelps:

  Mass prosperity came with the mass innovation that sprung up in 1815 in Britain, soon after in Amer

• Edmund Phelps:

  What brought mass innovation to a nation was not scientific advances - its own or others' - but 'ec

• Edmund Phelps:

  Corporatist attitudes against capitalism came to the fore in the 1920s. Corporatists, with their co

• Edmund Phelps:

  An indictment of entitlements has to focus on the huge 'social wealth' that the welfare state creat

• Edmund Phelps:

  The level of dynamism is a matter of how fertile the country is in coming up with innovative ideas

• Edmund Phelps:

  Germany, Italy and France appear to possess less dynamism than do the U.S. and the others.

• Edmund Phelps:

  Entrepreneurs' willingness to innovate or just to invest - and thus create new jobs - is driven by

• Edmund Phelps:

  The celebration of homeownership seems to be part of a countermovement against popular owning of sh

• Edmund Phelps:

  I'm not attacking the idea that people live in conglomerations of houses in proximity to one anothe

• Edmund Phelps:

  I grew up thinking that renting is perfectly normal. And then, strangely enough, I never did buy a