Simon Kuznets Quotes (11 quotes) | Quotes of famous people

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Famous Simon Kuznets Quotes

“Distinctions must be kept in mind between quantity and quality of growth, between its costs and return, and between the short and the long term. Goals for more growth should specify more growth of what and for what.”

Simon Kuznets

Simon Kuznets in: Herbert David Croly eds. (1962) The New Republic Vol. 147. p. 29: About rethinking the system of national accounting

“we need far more empirical study than we have had so far of the universe of inventors; any finding concerning inventors… would be of great value… for public policy in regard to inventive activity.”

Simon Kuznets

Simon Kuznets (1962, p. 32), as cited in: David W. Galenson, "Understanding the Creativity of Scientists and Entrepreneurs." (2012).

“The central theme of this paper is the character and causes of long-term changes in the personal distribution of income. Does inequality in the distribution of income increase or decrease in the course of a country's economic growth? What factors determine the secular level and trends of income inequalities?”

Simon Kuznets

Source: "Economic growth and income inequality," 1955, p. 1

“[An] epochal innovation [consisting of the] spreading application of science to processes of production and social organization.”

Simon Kuznets

Source: Modern economic growth,(1966), p. 487, as cited in: Peter Temin, ‎Gianni Toniolo (2008) The World Economy between the Wars. p. 7

“The welfare of a nation can scarcely be inferred from a measurement of national income.”

Simon Kuznets

Simon Kuznets in report to the Congress, 1934; Cited in: Gernot Kohler, ‎Emilio José Chaves (2003) Globalization: Critical Perspectives. p. 336

“The inescapable conclusion is that the direct contribution of man-hours and capital accumulation would hardly account for more than a tenth of the rate of growth in per capita product — and probably less. The large remainder must be assigned to an increase in efficiency in the productive resources, or the effects of changing arrangements, or to the impact of technological change, or to all three”

Simon Kuznets

Source: Modern economic growth,(1966), p. 81

Simon Kuznets Quotes

“The paper is perhaps 5 per cent empirical information and 95 per cent speculation, some of it possibly tainted by wishful thinking.”

Simon Kuznets

Source: "Economic growth and income inequality," 1955, p. 26
Context: The paper is perhaps 5 per cent empirical information and 95 per cent speculation, some of it possibly tainted by wishful thinking. The excuse for building an elaborate structure on such a shaky foundation is a deep interest in the subject and a wish to share it with members of the Association. The formal and no less genuine excuse is that the subject is central to much of economic analysis and thinking; that our knowledge of it is inadequate; that a more cogent view of the whole field may help channel our interests and work in intellectually profitable directions; that speculation is an effective way of presenting a broad view of the field; and that so long as it is recognized as a collection of hunches calling for further investigation rather than a set of fully tested conclusions, little harm and much good may result

Thinking

“The rural and urban populations does not necessarily drift downward in the process of economic growth: indeed, there is some evidence to suggest that it is stable at best, and tends to widen because per capita productivity in urban pursuits increases more rapidly than in agriculture.”

Simon Kuznets

Source: "Economic growth and income inequality," 1955, p. 8

“An invariable accompaniment of growth in developed countries is the shift away from agriculture, a process usually referred to as industrialization and urbanization. The income distribution of the total population, in the simplest model, may therefore be viewed as a combination of the income distributions of the rural and of the urban populations. What little we know of the structures of these two component income distributions reveals that: (a) the average per capita income of the rural population is usually lower than that of the urban;' (b) inequality in the percentage shares within the distribution for the rural population is somewhat narrower than in that for the urban population… Operating with this simple model, what conclusions do we reach? First, all other conditions being equal, the increasing weight of urban population means an increasing share for the more unequal of the two component distributions. Second, the relative difference in per capita income between the rural and urban populations does not necessarily drift downward in the process of economic growth: indeed, there is some evidence to suggest that it is stable at best, and tends to widen because per capita productivity in urban pursuits increases more rapidly than in agriculture. If this is so, inequality in the total income distribution should increase”

Simon Kuznets

Source: "Economic growth and income inequality," 1955, p. 7 as cited in: Anthony Barnes Atkinson, François Bourguignon, Handbook of Income Distribution, Vol. 1. Elsevier, 2000 p. 799

Country

“[The principal characteristic of this economic epoch is] a sustained increase in per capita or per worker product, most often accompanied by an increase in population and usually sweeping structural changes.”

Simon Kuznets

Source: Modern economic growth,(1966), p. 1, as cited in: Amitava Krishna Dutt, ‎Jaime Ros (2008) International Handbook of Development Economics. p. 48; Definition of "modern economic growth"

Change

“The very fact that after a while, an increasing proportion of the urban population was "native," i. e., born in cities rather than in the rural areas, and hence more able to take advantage of the possibilities of city life in preparation for the economic struggle, meant a better chance for organization and adaptation, a better basis for securing greater income shares than was possible for the newly "immigrant" population coming from the countryside or from abroad”

Simon Kuznets

Source: "Economic growth and income inequality," 1955, p. 17

Life , Chance