Franco Modigliani Quotes

Italy, Economist
June 18, 1918 – September, 25, 2003.

Franco Modigliani was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics. He was a professor at UIUC, Carnegie Mellon University, and MIT.

A situation where people can grow old without having a job that rewards them individually while adding to the collective well-being is morally unacceptable.

Franco Modigliani
- People
- Job
The life cycle of family size, at least in the U.S., has a very humped shape rather similar to that of income, though with a somewhat earlier peak. As a result, one might expect, and generally finds a fairly constant rate of saving in the central age group, but lower saving or even dissaving in the very young or old.

Franco Modigliani
- Life
- Family
- Age

High leverage is unsafe, not just for a company but the entire economy... LBOs are reducing the safety. Management loses the power to do many things. It has no margin for error and less margin for additional risk.

Franco Modigliani
- Risk
- Safety
- Management
Is it important that the rent of land be retained as a source of government revenue. Some persons who could make excellent use of land would be unable to raise money for the purchase price. Collecting rent annually provides access to land for persons with limited access to credit.

Franco Modigliani