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href="#Research_in_1960s_and_1970s"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Research in 1960s and 1970s</span> </div> </a> <ul id="toc-Research_in_1960s_and_1970s-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Research_in_1980s" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Research_in_1980s"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Research in 1980s</span> </div> </a> <ul id="toc-Research_in_1980s-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Research_in_1990s" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Research_in_1990s"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Research in 1990s</span> </div> </a> <ul id="toc-Research_in_1990s-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Current_focus" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Current_focus"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Current focus</span> </div> </a> <ul id="toc-Current_focus-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Personal_life" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Personal_life"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Personal life</span> </div> </a> <ul id="toc-Personal_life-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Honors_and_awards" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Honors_and_awards"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Honors and awards</span> </div> </a> <ul id="toc-Honors_and_awards-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Bibliography" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Bibliography"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Bibliography</span> </div> </a> <ul id="toc-Bibliography-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> 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class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Edmund Phelps</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 50 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-50" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">50 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A5%D8%AF%D9%85%D9%88%D9%86%D8%AF_%D9%81%D9%8A%D9%84%D8%A8%D8%B3" title="إدموند فيلبس – Arabic" lang="ar" hreflang="ar" data-title="إدموند فيلبس" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Edmund_Felps" title="Edmund Felps – Azerbaijani" lang="az" hreflang="az" data-title="Edmund Felps" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%8F%E0%A6%A1%E0%A6%AE%E0%A6%A8%E0%A7%8D%E0%A6%A1_%E0%A6%AB%E0%A7%87%E0%A6%B2%E0%A7%8D%E0%A6%AA%E0%A6%B8" title="এডমন্ড ফেল্পস – Bangla" lang="bn" hreflang="bn" data-title="এডমন্ড ফেল্পস" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%AD%D0%B4%D0%BC%D1%83%D0%BD%D0%B4_%D0%A4%D0%B5%D0%BB%D0%BF%D1%81" title="Эдмунд Фелпс – Belarusian" lang="be" hreflang="be" data-title="Эдмунд Фелпс" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%95%D0%B4%D0%BC%D1%83%D0%BD%D0%B4_%D0%A4%D0%B5%D0%BB%D0%BF%D1%81" title="Едмунд Фелпс – Bulgarian" lang="bg" hreflang="bg" data-title="Едмунд Фелпс" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Edmund_Strother_Phelps" title="Edmund Strother Phelps – Catalan" lang="ca" hreflang="ca" data-title="Edmund Strother Phelps" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Edmund_S._Phelps" title="Edmund S. Phelps – Czech" lang="cs" hreflang="cs" data-title="Edmund S. Phelps" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Danish" lang="da" hreflang="da" data-title="Edmund Phelps" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Edmund_S._Phelps" title="Edmund S. Phelps – German" lang="de" hreflang="de" data-title="Edmund S. Phelps" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Edmund_S._Phelps" title="Edmund S. Phelps – Spanish" lang="es" hreflang="es" data-title="Edmund S. Phelps" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Edmund_S._Phelps" title="Edmund S. Phelps – Esperanto" lang="eo" hreflang="eo" data-title="Edmund S. Phelps" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Basque" lang="eu" hreflang="eu" data-title="Edmund Phelps" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A7%D8%AF%D9%85%D9%88%D9%86%D8%AF_%D9%81%D9%84%D9%BE%D8%B3" title="ادموند فلپس – Persian" lang="fa" hreflang="fa" data-title="ادموند فلپس" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – French" lang="fr" hreflang="fr" data-title="Edmund Phelps" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-gd mw-list-item"><a href="https://gd.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Scottish Gaelic" lang="gd" hreflang="gd" data-title="Edmund Phelps" data-language-autonym="Gàidhlig" data-language-local-name="Scottish Gaelic" class="interlanguage-link-target"><span>Gàidhlig</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%97%90%EB%93%9C%EB%A8%BC%EB%93%9C_%ED%8E%A0%ED%94%84%EC%8A%A4" title="에드먼드 펠프스 – Korean" lang="ko" hreflang="ko" data-title="에드먼드 펠프스" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B7%D5%A4%D5%B4%D5%B8%D6%82%D5%B6%D5%A4_%D5%96%D5%A5%D5%AC%D6%83%D5%BD" title="Էդմունդ Ֆելփս – Armenian" lang="hy" hreflang="hy" data-title="Էդմունդ Ֆելփս" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%8F%E0%A4%A1%E0%A4%AE%E0%A4%A3%E0%A5%8D%E0%A4%A1_%E0%A4%AB%E0%A5%87%E0%A4%B2%E0%A5%8D%E0%A4%AA%E0%A5%8D%E0%A4%B8" title="एडमण्ड फेल्प्स – Hindi" lang="hi" hreflang="hi" data-title="एडमण्ड फेल्प्स" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/Edmund_Strother_Phelps" title="Edmund Strother Phelps – Ido" lang="io" hreflang="io" data-title="Edmund Strother Phelps" data-language-autonym="Ido" data-language-local-name="Ido" class="interlanguage-link-target"><span>Ido</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Indonesian" lang="id" hreflang="id" data-title="Edmund Phelps" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Italian" lang="it" hreflang="it" data-title="Edmund Phelps" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%90%D7%93%D7%9E%D7%95%D7%A0%D7%93_%D7%A4%D7%9C%D7%A4%D7%A1" title="אדמונד פלפס – Hebrew" lang="he" hreflang="he" data-title="אדמונד פלפס" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%94%E1%83%93%E1%83%9B%E1%83%A3%E1%83%9C%E1%83%93_%E1%83%A4%E1%83%94%E1%83%9A%E1%83%9E%E1%83%A1%E1%83%98" title="ედმუნდ ფელპსი – Georgian" lang="ka" hreflang="ka" data-title="ედმუნდ ფელპსი" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-ku mw-list-item"><a href="https://ku.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Kurdish" lang="ku" hreflang="ku" data-title="Edmund Phelps" data-language-autonym="Kurdî" data-language-local-name="Kurdish" class="interlanguage-link-target"><span>Kurdî</span></a></li><li class="interlanguage-link interwiki-la mw-list-item"><a href="https://la.wikipedia.org/wiki/Edmundus_Strother_Phelps" title="Edmundus Strother Phelps – Latin" lang="la" hreflang="la" data-title="Edmundus Strother Phelps" data-language-autonym="Latina" data-language-local-name="Latin" class="interlanguage-link-target"><span>Latina</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Hungarian" lang="hu" hreflang="hu" data-title="Edmund Phelps" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a href="https://ml.wikipedia.org/wiki/%E0%B4%8E%E0%B4%A1%E0%B5%8D%E0%B4%AE%E0%B4%A3%E0%B5%8D%E0%B4%9F%E0%B5%8D_%E0%B4%AB%E0%B5%86%E0%B5%BD%E2%80%8C%E0%B4%AA%E0%B5%8D%E0%B4%B8%E0%B5%8D" title="എഡ്മണ്ട് ഫെൽ‌പ്സ് – Malayalam" lang="ml" hreflang="ml" data-title="എഡ്മണ്ട് ഫെൽ‌പ്സ്" data-language-autonym="മലയാളം" data-language-local-name="Malayalam" class="interlanguage-link-target"><span>മലയാളം</span></a></li><li class="interlanguage-link interwiki-arz mw-list-item"><a href="https://arz.wikipedia.org/wiki/%D8%A7%D8%AF%D9%85%D9%88%D9%86%D8%AF_%D9%81%D9%8A%D9%84%D8%A8%D8%B3" title="ادموند فيلبس – Egyptian Arabic" lang="arz" hreflang="arz" data-title="ادموند فيلبس" data-language-autonym="مصرى" data-language-local-name="Egyptian Arabic" class="interlanguage-link-target"><span>مصرى</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Malay" lang="ms" hreflang="ms" data-title="Edmund Phelps" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Dutch" lang="nl" hreflang="nl" data-title="Edmund Phelps" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%82%A8%E3%83%89%E3%83%A0%E3%83%B3%E3%83%89%E3%83%BB%E3%83%95%E3%82%A7%E3%83%AB%E3%83%97%E3%82%B9" title="エドムンド・フェルプス – Japanese" lang="ja" hreflang="ja" data-title="エドムンド・フェルプス" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Edmund Phelps" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pnb mw-list-item"><a href="https://pnb.wikipedia.org/wiki/%D8%A7%DB%8C%DA%88%D9%85%D9%86%DA%88_%D9%81%DB%8C%D9%84%D9%BE%D8%B3" title="ایڈمنڈ فیلپس – Western Punjabi" lang="pnb" hreflang="pnb" data-title="ایڈمنڈ فیلپس" data-language-autonym="پنجابی" data-language-local-name="Western Punjabi" class="interlanguage-link-target"><span>پنجابی</span></a></li><li class="interlanguage-link interwiki-nds mw-list-item"><a href="https://nds.wikipedia.org/wiki/Edmund_Strother_Phelps" title="Edmund Strother Phelps – Low German" lang="nds" hreflang="nds" data-title="Edmund Strother Phelps" data-language-autonym="Plattdüütsch" data-language-local-name="Low German" class="interlanguage-link-target"><span>Plattdüütsch</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Edmund_S._Phelps" title="Edmund S. Phelps – Polish" lang="pl" hreflang="pl" data-title="Edmund S. Phelps" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Portuguese" lang="pt" hreflang="pt" data-title="Edmund Phelps" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Romanian" lang="ro" hreflang="ro" data-title="Edmund Phelps" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%A4%D0%B5%D0%BB%D0%BF%D1%81,_%D0%AD%D0%B4%D0%BC%D1%83%D0%BD%D0%B4" title="Фелпс, Эдмунд – Russian" lang="ru" hreflang="ru" data-title="Фелпс, Эдмунд" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Simple English" lang="en-simple" hreflang="en-simple" data-title="Edmund Phelps" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Slovak" lang="sk" hreflang="sk" data-title="Edmund Phelps" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Finnish" lang="fi" hreflang="fi" data-title="Edmund Phelps" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Edmund_S._Phelps" title="Edmund S. Phelps – Swedish" lang="sv" hreflang="sv" data-title="Edmund S. Phelps" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%8E%E0%AE%9F%E0%AF%8D%E0%AE%AE%E0%AE%A3%E0%AF%8D%E0%AE%9F%E0%AF%8D_%E0%AE%83%E0%AE%B5%E0%AF%86%E0%AE%B2%E0%AF%8D%E0%AE%AA%E0%AF%8D%E0%AE%B8%E0%AF%8D" title="எட்மண்ட் ஃவெல்ப்ஸ் – Tamil" lang="ta" hreflang="ta" data-title="எட்மண்ட் ஃவெல்ப்ஸ்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-tt mw-list-item"><a href="https://tt.wikipedia.org/wiki/%D0%AD%D0%B4%D0%BC%D1%83%D0%BD%D0%B4_%D0%A4%D0%B5%D0%BB%D0%BF%D1%81" title="Эдмунд Фелпс – Tatar" lang="tt" hreflang="tt" data-title="Эдмунд Фелпс" data-language-autonym="Татарча / tatarça" data-language-local-name="Tatar" class="interlanguage-link-target"><span>Татарча / tatarça</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Turkish" lang="tr" hreflang="tr" data-title="Edmund Phelps" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%95%D0%B4%D0%BC%D1%83%D0%BD%D0%B4_%D0%A4%D0%B5%D0%BB%D0%BF%D1%81" title="Едмунд Фелпс – Ukrainian" lang="uk" hreflang="uk" data-title="Едмунд Фелпс" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a href="https://ur.wikipedia.org/wiki/%D8%A7%DB%8C%DA%88%D9%85%D9%86%DA%88_%D9%81%DB%8C%D9%84%D9%BE%D8%B3" title="ایڈمنڈ فیلپس – Urdu" lang="ur" hreflang="ur" data-title="ایڈمنڈ فیلپس" data-language-autonym="اردو" data-language-local-name="Urdu" class="interlanguage-link-target"><span>اردو</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Vietnamese" lang="vi" hreflang="vi" data-title="Edmund Phelps" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-yo mw-list-item"><a href="https://yo.wikipedia.org/wiki/Edmund_Phelps" title="Edmund Phelps – Yoruba" lang="yo" hreflang="yo" data-title="Edmund Phelps" data-language-autonym="Yorùbá" data-language-local-name="Yoruba" class="interlanguage-link-target"><span>Yorùbá</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%9F%83%E5%BE%B7%E8%92%99%C2%B7%E8%B4%B9%E5%B0%94%E6%99%AE%E6%96%AF" title="埃德蒙·费尔普斯 – Chinese" lang="zh" hreflang="zh" data-title="埃德蒙·费尔普斯" 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</div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">American economist</div> <p class="mw-empty-elt"> </p> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox biography vcard"><tbody><tr><th colspan="2" class="infobox-above" style="font-size:125%;"><div class="fn">Edmund Phelps</div></th></tr><tr><td colspan="2" class="infobox-image"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Edmund_Phelps_2017.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/10/Edmund_Phelps_2017.jpg/220px-Edmund_Phelps_2017.jpg" decoding="async" width="220" height="220" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/10/Edmund_Phelps_2017.jpg/330px-Edmund_Phelps_2017.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/10/Edmund_Phelps_2017.jpg/440px-Edmund_Phelps_2017.jpg 2x" data-file-width="981" data-file-height="981" /></a></span><div class="infobox-caption">Phelps in 2017</div></td></tr><tr><th scope="row" class="infobox-label">Born</th><td class="infobox-data"><span style="display:none"> (<span class="bday">1933-07-26</span>) </span>July 26, 1933<span class="noprint ForceAgeToShow"> (age 91)</span><br /><div style="display:inline" class="birthplace"><a href="/wiki/Evanston,_Illinois" title="Evanston, Illinois">Evanston, Illinois</a>, U.S.</div></td></tr><tr><th scope="row" class="infobox-label">Nationality</th><td class="infobox-data category">American</td></tr><tr><th scope="row" class="infobox-label">Education</th><td class="infobox-data"><a href="/wiki/Amherst_College" title="Amherst College">Amherst College</a> (<a href="/wiki/Bachelor_of_Arts" title="Bachelor of Arts">BA</a>)<br /><a href="/wiki/Yale_University" title="Yale University">Yale University</a> (<a href="/wiki/PhD" class="mw-redirect" title="PhD">PhD</a>)</td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><th colspan="2" class="infobox-header">Academic career</th></tr><tr><th scope="row" class="infobox-label">Field</th><td class="infobox-data category"><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></td></tr><tr><th scope="row" class="infobox-label">Institution</th><td class="infobox-data"><a href="/wiki/RAND_Corporation" title="RAND Corporation">RAND Corporation</a><br /><a href="/wiki/Cowles_Foundation" title="Cowles Foundation">Cowles Foundation</a><br /><a href="/wiki/University_of_Pennsylvania" title="University of Pennsylvania">University of Pennsylvania</a><br /><a href="/wiki/Columbia_University" title="Columbia University">Columbia University</a></td></tr><tr><th scope="row" class="infobox-label">Doctoral<br />advisor</th><td class="infobox-data"><a href="/wiki/James_Tobin" title="James Tobin">James Tobin</a><br /><a href="/wiki/Arthur_Okun" class="mw-redirect" title="Arthur Okun">Arthur Okun</a></td></tr><tr><th scope="row" class="infobox-label">Doctoral<br />students</th><td class="infobox-data"><a href="/wiki/Gylfi_Zoega" title="Gylfi Zoega">Gylfi Zoega</a><br /><a href="/w/index.php?title=Hian_Teck_Hoon&action=edit&redlink=1" class="new" title="Hian Teck Hoon (page does not exist)">Hian Teck Hoon</a></td></tr><tr><th scope="row" class="infobox-label">Influences</th><td class="infobox-data"><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a><br /><a href="/wiki/William_Fellner" title="William Fellner">William Fellner</a><br /><a href="/wiki/Thomas_Schelling" title="Thomas Schelling">Thomas Schelling</a><br /><a href="/wiki/John_Rawls" title="John Rawls">John Rawls</a></td></tr><tr><th scope="row" class="infobox-label">Contributions</th><td class="infobox-data"><a href="/wiki/Microfoundations_of_macroeconomics" class="mw-redirect" title="Microfoundations of macroeconomics">Microfoundations of macroeconomics</a><br />Expectations in wage and price-setting<br /><a href="/wiki/Natural_rate_of_unemployment" title="Natural rate of unemployment">Natural rate of unemployment</a><br /><a href="/wiki/Statistical_discrimination_(economics)" title="Statistical discrimination (economics)">Statistical discrimination</a><br />Structural slumps<br /><a href="/wiki/Imagination" title="Imagination">Imagination</a> in <a href="/wiki/Innovation" title="Innovation">innovating</a><br /><a href="/wiki/Golden_Rule_savings_rate" title="Golden Rule savings rate">Golden Rule rate of saving</a></td></tr><tr><th scope="row" class="infobox-label">Awards</th><td class="infobox-data"><a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Nobel Memorial Prize in Economic Sciences</a>, 2006<br /><a href="/wiki/Chevalier_de_la_Legion_d%27Honneur" class="mw-redirect" title="Chevalier de la Legion d'Honneur">Chevalier de la Legion d'Honneur</a>, 2008<br /><a href="/wiki/Pico_Mirandola" class="mw-redirect" title="Pico Mirandola">Pico Mirandola</a> Prize, 2008<br /><a href="/wiki/Kiel_Institute_for_the_World_Economy" title="Kiel Institute for the World Economy">Global Economy Prize</a>, 2008<br />China <a href="/wiki/Friendship_Award" class="mw-redirect" title="Friendship Award">Friendship Award</a>, 2014</td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><th colspan="2" class="infobox-header">Academic background</th></tr><tr><th scope="row" class="infobox-label"><a href="/wiki/Thesis" title="Thesis">Thesis</a></th><td class="infobox-data"><a rel="nofollow" class="external text" href="https://www.proquest.com/docview/301897187/"><i>A test for the presence of cost inflation in the united states economy, 1955-1957</i></a> (1959)</td></tr><tr style="display:none"><td colspan="2"> </td></tr><tr style="display:none"><td colspan="2"> </td></tr></tbody></table> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist 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screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar sidebar-collapse nomobile nowraplinks"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Macroeconomics" title="Category:Macroeconomics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></th></tr><tr><td class="sidebar-image" style="padding-top:0.6em;"><span class="notpageimage" typeof="mw:File"><a href="/wiki/File:Ec_8_(26088200676)_(cropped).jpg" class="mw-file-description"><img alt="Federal Reserve" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Ec_8_%2826088200676%29_%28cropped%29.jpg/220px-Ec_8_%2826088200676%29_%28cropped%29.jpg" decoding="async" width="220" height="150" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Ec_8_%2826088200676%29_%28cropped%29.jpg/330px-Ec_8_%2826088200676%29_%28cropped%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Ec_8_%2826088200676%29_%28cropped%29.jpg/440px-Ec_8_%2826088200676%29_%28cropped%29.jpg 2x" data-file-width="2400" data-file-height="1633" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Basic concepts</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Aggregate_demand" title="Aggregate demand">Aggregate demand</a></li> <li><a href="/wiki/Aggregate_supply" title="Aggregate supply">Aggregate supply</a></li> <li><a href="/wiki/Business_cycle" title="Business cycle">Business cycle</a></li> <li><a href="/wiki/Compound_annual_growth_rate" title="Compound annual growth rate">CAGR</a></li> <li><a href="/wiki/Deflation" title="Deflation">Deflation</a></li> <li><a href="/wiki/Demand_shock" title="Demand shock">Demand shock</a></li> <li><a href="/wiki/Disinflation" title="Disinflation">Disinflation</a></li> <li><a href="/wiki/Effective_demand" title="Effective demand">Effective demand</a></li> <li>Expectations <ul><li><a href="/wiki/Adaptive_expectations" title="Adaptive expectations">Adaptive</a></li> <li><a href="/wiki/Rational_expectations" title="Rational expectations">Rational</a></li></ul></li> <li><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crisis</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Growth</a></li> <li><a href="/wiki/Inflation" title="Inflation">Inflation</a> <ul><li><a href="/wiki/Demand-pull_inflation" title="Demand-pull inflation">Demand-pull</a></li> <li><a href="/wiki/Cost-push_inflation" title="Cost-push inflation">Cost-push</a></li></ul></li> <li><a href="/wiki/Interest_rate" title="Interest rate">Interest rate</a></li> <li><a href="/wiki/Investment_(macroeconomics)" title="Investment (macroeconomics)">Investment</a></li> <li><a href="/wiki/Liquidity_trap" title="Liquidity trap">Liquidity trap</a></li> <li><a href="/wiki/Measures_of_national_income_and_output" title="Measures of national income and output">Measures of national income and output</a> <ul><li><a href="/wiki/Gross_domestic_product" title="Gross domestic product">GDP</a></li> <li><a href="/wiki/Gross_national_income" title="Gross national income">GNI</a></li> <li><a href="/wiki/Net_national_income" title="Net national income">NNI</a></li></ul></li> <li><a href="/wiki/Microfoundations" title="Microfoundations">Microfoundations</a></li> <li><a href="/wiki/Money" title="Money">Money</a> <ul><li><a href="/wiki/Endogenous_money" title="Endogenous money">Endogenous</a></li></ul></li> <li><a href="/wiki/Money_creation" title="Money creation">Money creation</a></li> <li><a href="/wiki/Demand_for_money" title="Demand for money">Demand for money</a> <ul><li><a href="/wiki/Liquidity_preference" title="Liquidity preference">Liquidity preference</a></li></ul></li> <li><a href="/wiki/Money_supply" title="Money supply">Money supply</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounts</a> <ul><li><a href="/wiki/System_of_National_Accounts" title="System of National Accounts">SNA</a></li></ul></li> <li><a href="/wiki/Nominal_rigidity" title="Nominal rigidity">Nominal rigidity</a></li> <li><a href="/wiki/Price_level" title="Price level">Price level</a></li> <li><a href="/wiki/Recession" title="Recession">Recession</a></li> <li><a href="/wiki/Shrinkflation" title="Shrinkflation">Shrinkflation</a></li> <li><a href="/wiki/Stagflation" title="Stagflation">Stagflation</a></li> <li><a href="/wiki/Supply_shock" title="Supply shock">Supply shock</a></li> <li><a href="/wiki/National_saving" title="National saving">Saving</a></li> <li><a href="/wiki/Unemployment" title="Unemployment">Unemployment</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Policies</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Fiscal_policy" title="Fiscal policy">Fiscal</a></li> <li><a href="/wiki/Monetary_policy" title="Monetary policy">Monetary</a></li> <li><a href="/wiki/Commercial_policy" title="Commercial policy">Commercial</a></li> <li><a href="/wiki/Central_bank" title="Central bank">Central bank</a></li> <li><a href="/wiki/Universal_basic_income" title="Universal basic income">Universal basic income</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Models</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/IS%E2%80%93LM_model" title="IS–LM model">IS–LM</a></li> <li><a href="/wiki/AD%E2%80%93AS_model" title="AD–AS model">AD–AS</a></li> <li><a href="/wiki/Keynesian_cross" title="Keynesian cross">Keynesian cross</a></li> <li><a href="/wiki/Multiplier_(economics)" title="Multiplier (economics)">Multiplier</a></li> <li><a href="/wiki/Accelerator_effect" title="Accelerator effect">Accelerator</a></li> <li><a href="/wiki/Phillips_curve" title="Phillips curve">Phillips curve</a></li> <li><a href="/wiki/Arrow%E2%80%93Debreu_model" title="Arrow–Debreu model">Arrow–Debreu</a></li> <li><a href="/wiki/Harrod%E2%80%93Domar_model" title="Harrod–Domar model">Harrod–Domar</a>Нмиф</li> <li><a href="/wiki/Solow%E2%80%93Swan_model" title="Solow–Swan model">Solow–Swan</a></li> <li><a href="/wiki/Ramsey%E2%80%93Cass%E2%80%93Koopmans_model" title="Ramsey–Cass–Koopmans model">Ramsey–Cass–Koopmans</a></li> <li><a href="/wiki/Overlapping_generations_model" title="Overlapping generations model">Overlapping generations</a></li> <li><a href="/wiki/General_equilibrium_theory" title="General equilibrium theory">General equilibrium</a> <ul><li><a href="/wiki/Dynamic_stochastic_general_equilibrium" title="Dynamic stochastic general equilibrium">DSGE</a></li></ul></li> <li><a href="/wiki/Endogenous_growth_theory" title="Endogenous growth theory">Endogenous growth</a></li> <li><a href="/wiki/Matching_theory_(economics)" class="mw-redirect" title="Matching theory (economics)">Matching theory</a></li> <li><a href="/wiki/Mundell%E2%80%93Fleming_model" title="Mundell–Fleming model">Mundell–Fleming</a></li> <li><a href="/wiki/Overshooting_model" title="Overshooting model">Overshooting</a></li> <li><a href="/wiki/NAIRU" title="NAIRU">NAIRU</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Related fields</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary economics</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development economics</a></li> <li><a href="/wiki/International_economics" title="International economics">International economics</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)"><a href="/wiki/History_of_macroeconomic_thought" title="History of macroeconomic thought">Schools</a></div><div class="sidebar-list-content mw-collapsible-content hlist"><i>Mainstream</i> <ul><li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li></ul></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/Stockholm_school_(economics)" class="mw-redirect" title="Stockholm school (economics)">Stockholm</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/New_neoclassical_synthesis" title="New neoclassical synthesis">New neoclassical synthesis</a></li> <li><a href="/wiki/Saltwater_and_freshwater_economics" title="Saltwater and freshwater economics">Saltwater and freshwater</a></li></ul> <p><i>Heterodox</i> </p> <ul><li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_monetary_theory" title="Modern monetary theory">Modern monetary theory</a></li></ul></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-Keynesian</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li></ul></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxian</a></li> <li><a href="/wiki/Market_monetarism" title="Market monetarism">Market monetarism</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)"><a href="/wiki/Category:Macroeconomists" title="Category:Macroeconomists">People</a></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">François Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Thomas Robert Malthus</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Léon Walras</a></li> <li><a href="/wiki/Knut_Wicksell" title="Knut Wicksell">Knut Wicksell</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Irving Fisher</a></li> <li><a href="/wiki/Wesley_Clair_Mitchell" title="Wesley Clair Mitchell">Wesley Clair Mitchell</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">John Maynard Keynes</a></li> <li><a href="/wiki/Alvin_Hansen" title="Alvin Hansen">Alvin Hansen</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Michał Kalecki</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Gunnar Myrdal</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Simon Kuznets</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Joan Robinson</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Friedrich Hayek</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">John Hicks</a></li> <li><a href="/wiki/Richard_Stone" title="Richard Stone">Richard Stone</a></li> <li><a href="/wiki/Hyman_Minsky" title="Hyman Minsky">Hyman Minsky</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Milton Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a></li> <li><a href="/wiki/Lawrence_Klein" title="Lawrence Klein">Lawrence Klein</a></li> <li><a class="mw-selflink selflink">Edmund Phelps</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Robert Lucas Jr.</a></li> <li><a href="/wiki/Edward_C._Prescott" title="Edward C. Prescott">Edward C. Prescott</a></li> <li><a href="/wiki/Peter_Diamond" title="Peter Diamond">Peter Diamond</a></li> <li><a href="/wiki/William_Nordhaus" title="William Nordhaus">William Nordhaus</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph Stiglitz</a></li> <li><a href="/wiki/Thomas_J._Sargent" title="Thomas J. Sargent">Thomas J. Sargent</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a></li> <li><a href="/wiki/Greg_Mankiw" title="Greg Mankiw">N. Gregory Mankiw</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">See also</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Macroeconomic_model" title="Macroeconomic model">Macroeconomic model</a></li> <li><a href="/wiki/List_of_important_publications_in_economics#Macroeconomics" title="List of important publications in economics">Publications in macroeconomics</a></li> <li><a href="/wiki/Economics" title="Economics">Economics</a> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li></ul></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical economics</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-below plainlist"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/16px-Bills_and_coins.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/24px-Bills_and_coins.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/32px-Bills_and_coins.svg.png 2x" data-file-width="960" data-file-height="465" /></span></span> </span><a href="/wiki/Portal:Money" title="Portal:Money">Money portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Macroeconomics_sidebar" title="Template:Macroeconomics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Macroeconomics_sidebar" title="Template talk:Macroeconomics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Macroeconomics_sidebar" title="Special:EditPage/Template:Macroeconomics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Edmund Strother Phelps</b> (born July 26, 1933) is an American <a href="/wiki/Economist" title="Economist">economist</a> and the recipient of the 2006 <a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Nobel Memorial Prize in Economic Sciences</a>. </p><p>Early in his career, he became known for his research at <a href="/wiki/Yale_University" title="Yale University">Yale</a>'s Cowles Foundation in the first half of the 1960s on the sources of economic growth. His demonstration of the <a href="/wiki/Golden_rule_savings_rate" class="mw-redirect" title="Golden rule savings rate">golden rule savings rate</a>, a concept related to work by <a href="/wiki/John_von_Neumann" title="John von Neumann">John von Neumann</a>, started a wave of research on how much a nation should spend on present consumption rather than save and invest for <a href="/wiki/Future_generations" title="Future generations">future generations</a>. </p><p>Phelps was at the <a href="/wiki/University_of_Pennsylvania" title="University of Pennsylvania">University of Pennsylvania</a> from 1966 to 1971 and moved to <a href="/wiki/Columbia_University" title="Columbia University">Columbia University</a> in 1971. His most seminal work inserted a <a href="/wiki/Microfoundation" class="mw-redirect" title="Microfoundation">microfoundation</a>, one featuring imperfect information, incomplete knowledge and expectations about wages and prices, to support a macroeconomic theory of employment determination and price-wage dynamics. That led to his development of the <a href="/wiki/Natural_rate_of_unemployment" title="Natural rate of unemployment">natural rate of unemployment</a>: its existence and the mechanism governing its size. In the early 2000s, he turned to the study of business innovation. </p><p>He is the founding director, since 2001, of Columbia's <a rel="nofollow" class="external text" href="https://capitalism.columbia.edu/">Center on Capitalism and Society</a>. He was McVickar Professor of Political Economy at Columbia from 1982 to 2021. On January 1, 2022, his title changed to McVickar Professor Emeritus of Political Economy. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Early_life_and_education">Early life and education</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=1" title="Edit section: Early life and education"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Phelps was born on July 26, 1933, in <a href="/wiki/Evanston,_Illinois" title="Evanston, Illinois">Evanston, Illinois</a>, and he moved with his family to <a href="/wiki/Hastings-on-Hudson,_New_York" title="Hastings-on-Hudson, New York">Hastings-on-Hudson, New York</a> when he was six, where he spent his school years.<sup id="cite_ref-autobio_1-0" class="reference"><a href="#cite_note-autobio-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> In 1951, he went to <a href="/wiki/Amherst_College" title="Amherst College">Amherst College</a> for his undergraduate education. At his father's advice, Phelps enrolled in his first <a href="/wiki/Economics" title="Economics">economics</a> course in his second year at Amherst. Economist James Nelson gave the course, which was based on the famous textbook <i><a href="/wiki/Economics_(textbook)" title="Economics (textbook)">Economics</a></i> by <a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a>. Phelps was strongly impressed with the possibility of applying formal analysis to business.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2011)">citation needed</span></a></i>]</sup> He quickly became aware of an important unsolved problem with the existing economic theory and the existing gap between microeconomics and macroeconomics. </p><p>After receiving his <a href="/wiki/Bachelor_of_Arts" title="Bachelor of Arts">B.A.</a> at Amherst in 1955, Phelps went to <a href="/wiki/Yale_University" title="Yale University">Yale University</a> for graduate studies. At Yale, he studied under future Nobel laureates <a href="/wiki/James_Tobin" title="James Tobin">James Tobin</a> and <a href="/wiki/Thomas_Schelling" title="Thomas Schelling">Thomas Schelling</a>, among others. Phelps was also strongly influenced by <a href="/wiki/William_Fellner" title="William Fellner">William Fellner</a> whose course emphasized the expectations of agents. Phelps received his <a href="/wiki/Ph.D." class="mw-redirect" title="Ph.D.">Ph.D.</a> in Economics from Yale in 1959. </p> <div class="mw-heading mw-heading2"><h2 id="Research_in_1960s_and_1970s">Research in 1960s and 1970s</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=2" title="Edit section: Research in 1960s and 1970s"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>After receiving his Ph.D., Phelps went to work as an economist for the <a href="/wiki/RAND_Corporation" title="RAND Corporation">RAND Corporation</a>. However, feeling he could not pursue <a href="/wiki/Macroeconomics" title="Macroeconomics">macroeconomics</a> at RAND (which focused on defense work), Phelps decided to return to the academic world. In 1960, he took a research position at the <a href="/wiki/Cowles_Foundation" title="Cowles Foundation">Cowles Foundation</a> while he was also teaching at Yale. At the Cowles Foundation, his research focused mainly on <a href="/wiki/Exogenous_growth_model" class="mw-redirect" title="Exogenous growth model">neoclassical growth theory</a>, following the seminal work of <a href="/wiki/Robert_Solow" title="Robert Solow">Robert Solow</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2011)">citation needed</span></a></i>]</sup> As part of his research, in 1961 Phelps published a famous paper<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> on the <a href="/wiki/Golden_Rule_savings_rate" title="Golden Rule savings rate">Golden Rule savings rate</a>, one of his major contributions to economic science. He also wrote papers dealing with other areas of economic theory, such as <a href="/wiki/Monetary_economics" title="Monetary economics">monetary economics</a> or <a href="/wiki/Ricardian_equivalence" title="Ricardian equivalence">Ricardian equivalence</a> and its relation to optimal growth. </p><p>His position at Cowles gave Phelps the chance to interact with <a href="/wiki/Arthur_Okun" class="mw-redirect" title="Arthur Okun">Arthur Okun</a> and other notables in the field. He was able to collaborate with other top economists working on growth theory, including <a href="/wiki/David_Cass" title="David Cass">David Cass</a> and fellow Nobelist <a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Tjalling Koopmans</a>. During the 1962–63 academic year, Phelps visited <a href="/wiki/MIT" class="mw-redirect" title="MIT">MIT</a>, where he was in contact with future Nobel Prize winners <a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a>, <a href="/wiki/Robert_Solow" title="Robert Solow">Robert Solow</a> and <a href="/wiki/Franco_Modigliani" title="Franco Modigliani">Franco Modigliani</a>.<sup id="cite_ref-autobio_1-1" class="reference"><a href="#cite_note-autobio-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>In 1966, Phelps left Yale and moved to the <a href="/wiki/University_of_Pennsylvania" title="University of Pennsylvania">University of Pennsylvania</a> <a href="/wiki/Tenure" class="mw-redirect" title="Tenure">to take up a tenured</a> position as a professor of economics. At Penn, Phelps's research focused mainly on the link between <a href="/wiki/Employment" title="Employment">employment</a>, <a href="/wiki/Wage" title="Wage">wage</a> setting and <a href="/wiki/Inflation" title="Inflation">inflation</a>, leading to his influential 1968 paper "Money-Wage Dynamics and Labor Market Equilibrium"<sup id="cite_ref-Money-Wage_4-0" class="reference"><a href="#cite_note-Money-Wage-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> and others.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> The research contributed important insights in the microeconomics of the <a href="/wiki/Phillips_curve" title="Phillips curve">Phillips curve</a>, including the role of expectations (in the form of <a href="/wiki/Adaptive_expectations" title="Adaptive expectations">adaptive expectations</a>) and <a href="/wiki/Perfect_information" title="Perfect information">imperfect information</a> in the setting of wages and prices.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> It also introduced the concept of the natural rate of unemployment and argued that labor market equilibrium is independent of the rate of inflation and so there is no long-run tradeoff between unemployment and inflation. That, if accurate, would have the crucial implication that the <a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> policy of demand management has only <a href="https://en.wiktionary.org/wiki/transitory" class="extiw" title="wikt:transitory">transitory</a> effects and so cannot be used to control the long-term rate of unemployment in the economy. In January 1969, Phelps organized a conference at Penn in support of the research on the microfoundations of inflation and employment determination. The conference papers were published the next year in a book<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> that had a strong and lasting influence; it became known as the "Phelps volume".<sup id="cite_ref-autobio_1-2" class="reference"><a href="#cite_note-autobio-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-nobelinfo_8-0" class="reference"><a href="#cite_note-nobelinfo-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Along with his research on the Phillips curve, Phelps also collaborated with other economists on research regarding economic growth, the effects of monetary and fiscal policy, and optimal <a href="/wiki/Population_growth" title="Population growth">population growth</a>. </p><p>In the following years, an element in Phelps's foundations came under heavy criticism with the introduction of <a href="/wiki/John_Muth" title="John Muth">John Muth</a>'s <a href="/wiki/Rational_expectations" title="Rational expectations">rational expectations</a>, which was popularized by future Nobel prize winner <a href="/wiki/Robert_Lucas,_Jr." class="mw-redirect" title="Robert Lucas, Jr.">Robert Lucas, Jr.</a> Phelps, with Calvo and John Taylor, started a program to rebuild Keynesian economics with rational expectations by employing <a href="/wiki/Sticky_(economics)" class="mw-redirect" title="Sticky (economics)">sticky wages and prices</a>. They did so by explicitly incorporating in models the fact that wage contracts are set in advance for multiple periods, an idea originating from Phelps's 1968 paper. This research lead to a paper published with Taylor in 1977,<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> proving that staggered wage setting gives monetary policy a role in stabilizing economic fluctuations. The use of staggered wage and price setting, further developed by Calvo in a 1983 paper,<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> became a cornerstone of <a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New Keynesian economics</a>. During the 1970s, Phelps and Calvo also collaborated on research on optimal contracts under <a href="/wiki/Asymmetric_information" class="mw-redirect" title="Asymmetric information">asymmetric information</a>.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>Phelps spent 1969–70 at the Center for Advanced Study in Behavioral Science at <a href="/wiki/Stanford_University" title="Stanford University">Stanford University</a>. Discussions with fellow Nobel prize winners <a href="/wiki/Amartya_Sen" title="Amartya Sen">Amartya Sen</a> and <a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Kenneth Arrow</a> and especially the influence of the <a href="/wiki/Philosophy" title="Philosophy">philosophy</a> of <a href="/wiki/John_Rawls" title="John Rawls">John Rawls</a>, whom he met during the year at the Center, led Phelps to undertake some research outside macroeconomics. As a result, in 1972, he published seminal research in the new field that he named <a href="/wiki/Statistical_discrimination_(economics)" title="Statistical discrimination (economics)">statistical discrimination</a>.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> He also published research on <a href="/wiki/Economic_justice" title="Economic justice">economic justice</a>, applying ideas from Rawls's <i><a href="/wiki/A_Theory_of_Justice" title="A Theory of Justice">A Theory of Justice</a></i>. </p><p>In 1971, Phelps moved to the Economics Department at <a href="/wiki/Columbia_University" title="Columbia University">Columbia University</a>, which also included future Nobel prize winners <a href="/wiki/William_Vickrey" title="William Vickrey">William Vickrey</a> and <a href="/wiki/James_J._Heckman" class="mw-redirect" title="James J. Heckman">James J. Heckman</a> (future laureate <a href="/wiki/Robert_Mundell" title="Robert Mundell">Robert Mundell</a> joined three years later), as well as <a href="/wiki/Phoebus_Dhrymes" title="Phoebus Dhrymes">Phoebus Dhrymes</a>, <a href="/wiki/Guillermo_Calvo" title="Guillermo Calvo">Guillermo Calvo</a> and <a href="/wiki/John_B._Taylor" title="John B. Taylor">John B. Taylor</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2011)">citation needed</span></a></i>]</sup> There, he published research on the <a href="/wiki/Inflation_tax" class="mw-redirect" title="Inflation tax">inflation tax</a> and the impact of <a href="/wiki/Fiscal_policy" title="Fiscal policy">fiscal policy</a> on optimal inflation. In 1972, Phelps published a new book<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> which focused on the derivation of policy implications of his new theory. The book further popularized his "expectations-augmented Phillips curve" and introduced the concept of <a href="/wiki/Hysteresis#In_economics" title="Hysteresis">hysteresis</a> with regard to unemployment (prolonged unemployment is partially irreversible as workers lose skill and become demoralized). </p><p>In the late 1970s, Phelps and one of his former students, <a href="/wiki/Roman_Frydman" title="Roman Frydman">Roman Frydman</a>, conducted some research on the implications of assuming rational expectations, at first independently and then in collaboration. Their results suggested that rational expectations are not the correct way to model agents' expectations.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2011)">citation needed</span></a></i>]</sup> They organized a conference on the issue in 1981 and published the proceedings in a 1983 book.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> However, as rational expectations were becoming the standard in macroeconomics, the book was initially received with hostility and was largely ignored. The <a href="/wiki/Financial_crisis_of_2007%E2%80%932008" class="mw-redirect" title="Financial crisis of 2007–2008">financial crisis of 2007–2008</a>, along with the failure of rational expectations models to predict it, led to a renewed interest in the work.<sup id="cite_ref-autobio_1-3" class="reference"><a href="#cite_note-autobio-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Research_in_1980s">Research in 1980s</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=3" title="Edit section: Research in 1980s"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1982, he was appointed the McVickar Professor of Political Economy at Columbia. During the early 1980s, he wrote an introductory textbook synthesizing contemporary economics knowledge. The book, <i>Political Economy</i>, was published in 1985 but had limited classroom adoption.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>In the 1980s, Phelps increased collaboration with European universities and institutions, including <a href="/wiki/Banca_d%27Italia" class="mw-redirect" title="Banca d'Italia">Banca d'Italia</a>, where he spent most of his 1985–86 sabbatical, and <a href="/wiki/Observatoire_Fran%C3%A7ais_des_Conjonctures_%C3%89conomiques" class="mw-redirect" title="Observatoire Français des Conjonctures Économiques">Observatoire Français des Conjonctures Économiques</a> (OFCE) in Paris. He became interested in the puzzle of the persistent high unemployment in Europe despite no pause in inflation and published on the subject with <a href="/wiki/Jean-Paul_Fitoussi" title="Jean-Paul Fitoussi">Jean-Paul Fitoussi</a> (the director of OFCE).<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> Further study led Phelps to believe that it is not a transitory phenomenon but the effect of changes in equilibrium unemployment.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2011)">citation needed</span></a></i>]</sup> During the following years, Phelps tried to build a theory to determine <a href="/wiki/Exogenous_and_endogenous_variables" title="Exogenous and endogenous variables">endogenously</a> the natural rate of unemployment. He published partial research results in a 1994 book, <i>Structural Slumps: The Modern Equilibrium Theory of Employment, Interest and Assets</i>. Phelps also collaborated closely with Luigi Paganetto at the <a href="/wiki/University_of_Rome_Tor_Vergata" title="University of Rome Tor Vergata">University of Rome Tor Vergata</a> and, between 1988 and 1998, as co-organizers of the <a href="/wiki/Villa_Mondragone" title="Villa Mondragone">Villa Mondragone</a> International Seminar. </p> <div class="mw-heading mw-heading2"><h2 id="Research_in_1990s">Research in 1990s</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=4" title="Edit section: Research in 1990s"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1990 Phelps took part in a mission from the new <a href="/wiki/EBRD" class="mw-redirect" title="EBRD">EBRD</a> to <a href="/wiki/Moscow" title="Moscow">Moscow</a>, where he and <a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Kenneth Arrow</a> designed a proposal for the reform of the <a href="/wiki/Soviet_Union" title="Soviet Union">Soviet Union</a>.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> After the EBRD was established, he became a member of its Economic Advisory Board, where he stayed until 1993. From his work at EBRD and collaboration with his former student, Roman Frydman, Phelps developed a strong interest in <a href="/wiki/Eastern_Europe" title="Eastern Europe">Eastern Europe</a>'s <a href="/wiki/Transition_economy" title="Transition economy">transition economies</a>. </p><p>Over the late 1980s and the early 1990s, Phelps created a new non-monetary theory of employment in which business asset values drive the natural rate. The theory, first fully set out in his book <i>Structural Slumps</i> (1994), explains Europe's slump without disinflation in the 1980s: the elevation of the world real rate of interest, declining opportunities for continuing technological catching up and the mushrooming social wealth granted by Europe's emerging welfare state play the main causal roles. Two sequel papers in 2000 and 2001 on the theory of 'structural booms' explained US inflationless expansion in the late 1990s and claimed its transience.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (November 2011)">citation needed</span></a></i>]</sup> His papers develop the thesis that the great economic swings experienced by the West in the past century not only originate in non-monetary shocks but also operate fundamentally by non-monetary mechanisms. This book, as well as subsequent papers, argued that the fluctuation of unemployment rates in the United States, the United Kingdom, and France stemmed from the accumulation of wealth with minimal investment.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p><p>In the mid-1990s, his research turned to what he called <a href="/wiki/Economic_inclusion" class="mw-redirect" title="Economic inclusion">economic inclusion</a>. He published in 1997 a book for the general public, <i>Rewarding Work</i> about the causes and cures of the joblessness and low wages among disadvantaged workers. </p> <div class="mw-heading mw-heading2"><h2 id="Current_focus">Current focus</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=5" title="Edit section: Current focus"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Phelps's current work is about the benefits and sources of a country's structural dynamism: the enterprise and creativity of entrepreneurs, the skill of financiers in selecting and supporting the best projects, and the knowledge managers draw upon in evaluating and making use of new methods and products.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> Every dynamic economy has its doldrums and even <a href="https://en.wiktionary.org/wiki/torpid" class="extiw" title="wikt:torpid">torpid</a> economies may rise, perhaps with delay, to an extraordinary opportunity. However, great dynamism, he argues, brings advantages in virtually every dimension of economic performance, not just in productivity. For Phelps, the challenges presented in a creative and evolving business sector provide most people with their main vehicle for the exploration, exercise, and development of their talents.<sup id="cite_ref-Mass_Flourishing_20-0" class="reference"><a href="#cite_note-Mass_Flourishing-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>In the already-advanced economies, that is perhaps the best reason that policy must aim to build a business sector of high dynamism and broad inclusion. The research task is to identify the institutions that are pathways to dynamism and the institutions that are obstructions. </p><p>Phelps's own research on dynamism began at the European Bank for Reconstruction and Development in 1990 and 1992–93, where he worked on the theory of capitalism and issues of mass privatization in Eastern Europe. Later in the decade, he turned to studying a range of economic institutions in Western Europe and the United States. He conducted research with a focus on the Italian economy as Senior Advisor to Italy in Europe of the Consiglio Nazionale delle Ricerche from 1997 to 2000. </p><p>In 2001, he and Roman Frydman founded the Center on Capitalism & Society at Columbia (now a unit of Arts and Sciences) to promote and conduct research on capitalism. </p><p>In 2008, writing in the wake of the <a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a>, Phelps criticized the "false" models of neoclassical economics, but he also wrote with skepticism regarding <a href="/wiki/2008%E2%80%932009_Keynesian_resurgence" title="2008–2009 Keynesian resurgence">Keynesian resurgence</a>:<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p> <blockquote><p>What theory can we use to get us out of the impending slump quickly and reliably? To use the "new classical" theory of fluctuations begun at Chicago in the 1970s – the theory in which the "risk management" models are embedded – is unthinkable, since it is precisely the theory falsified by the asset price collapse. The thoughts of some have turned to <a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">John Maynard Keynes</a>. His insights into uncertainty and speculation were deep. Yet his employment theory was problematic and the "Keynesian" policy solutions are questionable at best... At the end of his life, Keynes wrote of "modernist stuff, gone wrong and turned sour and silly". He told his friend Friedrich Hayek he intended to re-examine his theory in his next book. He would have moved on. The admiration we all have for Keynes's fabulous contributions should not sway us from moving on.</p></blockquote> <p>Since around 2006, his main research focus has been innovation and economic growth as fueled by the creativity of ordinary people within a nation. His book <i>Mass Flourishing</i> (2013) remarks that cavemen had the ability to imagine new things and the zeal to create them, but a culture liberating and inspiring dynamism is necessary to ignite what Lincoln called a "passion for the new."<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> These theses on the central role of values for indigenous innovation and the good life are tested in the book <i>Dynamism</i>, coauthored with Raicho Bojilov, Hian Teck Hoon and <a href="/wiki/Gylfi_Zoega" title="Gylfi Zoega">Gylfi Zoega</a>, which was published by <a href="/wiki/Harvard_University_Press" title="Harvard University Press">Harvard University Press</a> in 2020. </p><p>Phelps has severely criticized the economic policy of U.S. president <a href="/wiki/Donald_Trump" title="Donald Trump">Donald Trump</a>. It feels "like economic policy at a time of fascism [...] The leader controls the economy and tells the companies how things are going to be done."<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p><p>In June 2020, he and other <a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Nobel laureates in Economics</a>, as well as architects, chefs and leaders of international organizations, signed the International Appeal of 7 June 2020 in favor of the purple economy ("Towards a cultural renaissance of the economy"), published in <i><a href="/wiki/Corriere_della_Sera" title="Corriere della Sera">Corriere della Sera</a></i>,<sup id="cite_ref-corriere.it20200607_24-0" class="reference"><a href="#cite_note-corriere.it20200607-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> <i><a href="/wiki/El_Pa%C3%ADs" title="El País">El País</a></i><sup id="cite_ref-elpais.com20200607_25-0" class="reference"><a href="#cite_note-elpais.com20200607-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> and <i><a href="/wiki/Le_Monde" title="Le Monde">Le Monde</a></i>.<sup id="cite_ref-lemonde.fr20200607_26-0" class="reference"><a href="#cite_note-lemonde.fr20200607-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Personal_life">Personal life</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=6" title="Edit section: Personal life"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1974 Phelps married Viviana Montdor.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> Publications have noted that despite his many accomplishments, Phelps does not own a car.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Honors_and_awards">Honors and awards</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=7" title="Edit section: Honors and awards"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1981 Phelps was elected to become a member of the National Academy of Science in the USA. In 2006, he was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, referred to, colloquially, as the Nobel Prize in Economics for "his analysis of inter-temporal tradeoffs in macroeconomic policy." In announcing the prize, the <a href="/wiki/Royal_Swedish_Academy_of_Sciences" title="Royal Swedish Academy of Sciences">Royal Swedish Academy of Sciences</a> said Phelps's work had "deepened our understanding of the relation between short-run and long-run effects of economic policy."<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p><p>In the year 2000, Phelps was made a Distinguished Fellow of the <a href="/wiki/American_Economic_Association" title="American Economic Association">American Economic Association</a>. In February 2008, he was named Chevalier of France's <a href="/wiki/List_of_foreign_recipients_of_the_L%C3%A9gion_d%27Honneur" class="mw-redirect" title="List of foreign recipients of the Légion d'Honneur">Legion of Honor</a>. Four months later he was given the Global Economy Prize of <a href="/wiki/Kiel_Institute_for_the_World_Economy" title="Kiel Institute for the World Economy">Kiel Institute for the World Economy</a>. In 2014, he received the Chinese Government's Friendship Award and the Wilbur Lucius Cross Medal from Yale University. </p><p>Furthermore, Phelps received honorary degrees from several renowned institutions acknowledging his academic work. In 1985, he was awarded an honorary degree from his alma mater, <a href="/wiki/Amherst_College" title="Amherst College">Amherst College</a>. In June 2001, he received an honorary doctorate from the <a href="/wiki/University_of_Mannheim" title="University of Mannheim">University of Mannheim</a> and, in October 2003, from <a href="/wiki/Universidade_Nova_de_Lisboa" class="mw-redirect" title="Universidade Nova de Lisboa">Universidade Nova de Lisboa</a>; in July 2004, from <a href="/wiki/Paris_Dauphine_University" title="Paris Dauphine University">Paris Dauphine University</a> and in October 2004, from the <a href="/wiki/University_of_Iceland" title="University of Iceland">University of Iceland</a>. He also holds honorary doctorates from the <a href="/wiki/Institut_d%27Etudes_Politiques_de_Paris" class="mw-redirect" title="Institut d'Etudes Politiques de Paris">Institut d'Etudes Politiques de Paris</a> (2006), the <a href="/wiki/University_of_Buenos_Aires" title="University of Buenos Aires">University of Buenos Aires</a> (2007), <a href="/wiki/Tsinghua_University" title="Tsinghua University">Tsinghua University</a> (2007), and the <a href="/wiki/Universit%C3%A9_libre_de_Bruxelles" title="Université libre de Bruxelles">Université libre de Bruxelles</a> (2010).<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> From 2010 to 2016, he served as Dean of New Huadu Business School at <a href="/wiki/Minjiang_University" title="Minjiang University">Minjiang University</a> in <a href="/wiki/Fuzhou" title="Fuzhou">Fuzhou</a>.<sup id="cite_ref-Curriculum_Vitae_31-0" class="reference"><a href="#cite_note-Curriculum_Vitae-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Bibliography">Bibliography</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=8" title="Edit section: Bibliography"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239549316">.mw-parser-output .refbegin{margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}@media screen{.mw-parser-output .refbegin{font-size:90%}}</style><div class="refbegin refbegin-hanging-indents refbegin-columns references-column-width" style="column-width: 30em"> <ul><li><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFPhelps,_Edmund_S.1961" class="citation journal cs1">Phelps, Edmund S. (1961). "The Golden Rule of Capital Accumulation". <i>American Economic Review</i>. <b>51</b>: 638–43.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Economic+Review&rft.atitle=The+Golden+Rule+of+Capital+Accumulation&rft.volume=51&rft.pages=638-43&rft.date=1961&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1966" class="citation book cs1">Phelps, Edmund S. (1966). <i>Golden Rules of Economic Growth: Studies of Efficient and Optimal Investment</i>. <a href="/wiki/W._W._Norton" class="mw-redirect" title="W. W. Norton">W. W. Norton</a>, New York. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-393-09708-0" title="Special:BookSources/0-393-09708-0"><bdi>0-393-09708-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Golden+Rules+of+Economic+Growth%3A+Studies+of+Efficient+and+Optimal+Investment&rft.pub=W.+W.+Norton%2C+New+York&rft.date=1966&rft.isbn=0-393-09708-0&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1966" class="citation journal cs1">Phelps, Edmund S. (1966). <a rel="nofollow" class="external text" href="http://cowles.yale.edu/sites/default/files/files/pub/d01/d0176.pdf">"Models of Technical Progress and the Golden Rule of Research"</a> <span class="cs1-format">(PDF)</span>. <i>Review of Economic Studies</i>. <b>33</b> (2). The Review of Economic Studies Ltd.: 133–46. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2974437">10.2307/2974437</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2974437">2974437</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Review+of+Economic+Studies&rft.atitle=Models+of+Technical+Progress+and+the+Golden+Rule+of+Research&rft.volume=33&rft.issue=2&rft.pages=133-46&rft.date=1966&rft_id=info%3Adoi%2F10.2307%2F2974437&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2974437%23id-name%3DJSTOR&rft.au=Phelps%2C+Edmund+S.&rft_id=http%3A%2F%2Fcowles.yale.edu%2Fsites%2Fdefault%2Ffiles%2Ffiles%2Fpub%2Fd01%2Fd0176.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1968" class="citation journal cs1">Phelps, Edmund S. (1968). "Money-Wage Dynamics and Labor Market Equilibrium". <i>Journal of Political Economy</i>. <b>76</b> (S4): 678–711. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1086%2F259438">10.1086/259438</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:154427979">154427979</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Political+Economy&rft.atitle=Money-Wage+Dynamics+and+Labor+Market+Equilibrium&rft.volume=76&rft.issue=S4&rft.pages=678-711&rft.date=1968&rft_id=info%3Adoi%2F10.1086%2F259438&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154427979%23id-name%3DS2CID&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1970" class="citation book cs1">Phelps, Edmund S.; et al. (1970). <i>Microeconomic Foundations of Employment and Inflation Theory</i>. W. W. Norton, New York. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-393-09326-3" title="Special:BookSources/0-393-09326-3"><bdi>0-393-09326-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Microeconomic+Foundations+of+Employment+and+Inflation+Theory&rft.pub=W.+W.+Norton%2C+New+York&rft.date=1970&rft.isbn=0-393-09326-3&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1972" class="citation book cs1">Phelps, Edmund S. (1972). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/inflationpolicyu0000phel"><i>Inflation Policy and Unemployment Theory</i></a></span>. W. W. Norton, New York. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-393-09395-6" title="Special:BookSources/0-393-09395-6"><bdi>0-393-09395-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Inflation+Policy+and+Unemployment+Theory&rft.pub=W.+W.+Norton%2C+New+York&rft.date=1972&rft.isbn=0-393-09395-6&rft.au=Phelps%2C+Edmund+S.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Finflationpolicyu0000phel&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1972" class="citation journal cs1">Phelps, Edmund S. (1972). <a rel="nofollow" class="external text" href="https://www.researchgate.net/publication/4728049">"The Statistical Theory of Racism and Sexism"</a>. <i>American Economic Review</i>. <b>62</b>: 659–61.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Economic+Review&rft.atitle=The+Statistical+Theory+of+Racism+and+Sexism&rft.volume=62&rft.pages=659-61&rft.date=1972&rft.au=Phelps%2C+Edmund+S.&rft_id=https%3A%2F%2Fwww.researchgate.net%2Fpublication%2F4728049&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.John_B._Taylor1977" class="citation journal cs1">Phelps, Edmund S.; John B. Taylor (1977). "Stabilizing Powers of Monetary Policy under Rational Expectations". <i>Journal of Political Economy</i>. <b>85</b> (1): 163–90. <a href="/wiki/CiteSeerX_(identifier)" class="mw-redirect" title="CiteSeerX (identifier)">CiteSeerX</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.741.1432">10.1.1.741.1432</a></span>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1086%2F260550">10.1086/260550</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:14729818">14729818</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Political+Economy&rft.atitle=Stabilizing+Powers+of+Monetary+Policy+under+Rational+Expectations&rft.volume=85&rft.issue=1&rft.pages=163-90&rft.date=1977&rft_id=https%3A%2F%2Fciteseerx.ist.psu.edu%2Fviewdoc%2Fsummary%3Fdoi%3D10.1.1.741.1432%23id-name%3DCiteSeerX&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A14729818%23id-name%3DS2CID&rft_id=info%3Adoi%2F10.1086%2F260550&rft.au=Phelps%2C+Edmund+S.&rft.au=John+B.+Taylor&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.,_Roman_Frydman1983" class="citation book cs1">Phelps, Edmund S., Roman Frydman; et al. (1983). <i>Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined</i>. <a href="/wiki/Cambridge_University_Press" title="Cambridge University Press">Cambridge University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-521-25744-1" title="Special:BookSources/0-521-25744-1"><bdi>0-521-25744-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Individual+Forecasting+and+Aggregate+Outcomes%3A+%27Rational+Expectations%27+Examined&rft.pub=Cambridge+University+Press&rft.date=1983&rft.isbn=0-521-25744-1&rft.au=Phelps%2C+Edmund+S.%2C+Roman+Frydman&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_book" title="Template:Cite book">cite book</a>}}</code>: CS1 maint: multiple names: authors list (<a href="/wiki/Category:CS1_maint:_multiple_names:_authors_list" title="Category:CS1 maint: multiple names: authors list">link</a>)</span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1990" class="citation book cs1">Phelps, Edmund S. (1990). <i>Seven Schools of Macroeconomic Thought</i>. <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-19-828333-1" title="Special:BookSources/978-0-19-828333-1"><bdi>978-0-19-828333-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Seven+Schools+of+Macroeconomic+Thought&rft.pub=Oxford+University+Press&rft.date=1990&rft.isbn=978-0-19-828333-1&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1994" class="citation book cs1">Phelps, Edmund S. (1994). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/structuralslumps0000phel"><i>Structural Slumps: The Modern Equilibrium Theory of Employment, Interest and Assets</i></a></span>. <a href="/wiki/Harvard_University_Press" title="Harvard University Press">Harvard University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-674-84373-8" title="Special:BookSources/0-674-84373-8"><bdi>0-674-84373-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Structural+Slumps%3A+The+Modern+Equilibrium+Theory+of+Employment%2C+Interest+and+Assets&rft.pub=Harvard+University+Press&rft.date=1994&rft.isbn=0-674-84373-8&rft.au=Phelps%2C+Edmund+S.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fstructuralslumps0000phel&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1997" class="citation book cs1">Phelps, Edmund S. (1997). <i>Rewarding Work: How to Restore Participation and Self-Support to Free Enterprise</i>. <a href="/wiki/Harvard_University_Press" title="Harvard University Press">Harvard University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-674-02694-0" title="Special:BookSources/978-0-674-02694-0"><bdi>978-0-674-02694-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Rewarding+Work%3A+How+to+Restore+Participation+and+Self-Support+to+Free+Enterprise&rft.pub=Harvard+University+Press&rft.date=1997&rft.isbn=978-0-674-02694-0&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.2003" class="citation book cs1">Phelps, Edmund S. (2003). <i>Designing Inclusion</i>. Cambridge University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-521-81695-5" title="Special:BookSources/0-521-81695-5"><bdi>0-521-81695-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Designing+Inclusion&rft.pub=Cambridge+University+Press&rft.date=2003&rft.isbn=0-521-81695-5&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps2009" class="citation journal cs1">Phelps, Edmund S. (October 2009). <a rel="nofollow" class="external text" href="http://www.firstthings.com/article/2009/10/economic-justice-and-the-spirit-of-innovation">"Economic Justice and the Spirit of Innovation"</a>. <i>First Things</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=First+Things&rft.atitle=Economic+Justice+and+the+Spirit+of+Innovation&rft.date=2009-10&rft.aulast=Phelps&rft.aufirst=Edmund+S.&rft_id=http%3A%2F%2Fwww.firstthings.com%2Farticle%2F2009%2F10%2Feconomic-justice-and-the-spirit-of-innovation&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps2009" class="citation cs2">Phelps, Edmund S. (2009), "The good life and the good economy: the humanist perspective of Aristotle, the pragmatists and the vitalists, and the economic justice of John Rawls", in <a href="/wiki/Ravi_Kanbur" title="Ravi Kanbur">Kanbur, Ravi</a>; <a href="/wiki/Kaushik_Basu" title="Kaushik Basu">Basu, Kaushik</a> (eds.), <i>Arguments for a better world: essays in honor of Amartya Sen | Volume I: Ethics, welfare, and measurement</i>, Oxford New York: Oxford University Press, pp. 35–49, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780199239115" title="Special:BookSources/9780199239115"><bdi>9780199239115</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+good+life+and+the+good+economy%3A+the+humanist+perspective+of+Aristotle%2C+the+pragmatists+and+the+vitalists%2C+and+the+economic+justice+of+John+Rawls&rft.btitle=Arguments+for+a+better+world%3A+essays+in+honor+of+Amartya+Sen+%26%23124%3B+Volume+I%3A+Ethics%2C+welfare%2C+and+measurement&rft.place=Oxford+New+York&rft.pages=35-49&rft.pub=Oxford+University+Press&rft.date=2009&rft.isbn=9780199239115&rft.aulast=Phelps&rft.aufirst=Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.2013" class="citation book cs1">Phelps, Edmund S. (2013). <i>Mass Flourishing: How Grass Roots Innovation Created Jobs, Challenge, and Change</i>. <a href="/wiki/Princeton_University_Press" title="Princeton University Press">Princeton University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-691-15898-3" title="Special:BookSources/978-0-691-15898-3"><bdi>978-0-691-15898-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mass+Flourishing%3A+How+Grass+Roots+Innovation+Created+Jobs%2C+Challenge%2C+and+Change&rft.pub=Princeton+University+Press&rft.date=2013&rft.isbn=978-0-691-15898-3&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=9" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-autobio-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-autobio_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-autobio_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-autobio_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-autobio_1-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps1995" class="citation book cs1">Phelps, Edmund S. (1995). <a rel="nofollow" class="external text" href="http://www.columbia.edu/~esp2/autobio1.pdf">"Chapter 5: A Life in Economics"</a> <span class="cs1-format">(PDF)</span>. In <a href="/wiki/Arnold_Heertje" title="Arnold Heertje">Arnold Heertje</a> (ed.). <i>The Makers of Modern Economics</i>. Vol. II (First ed.). Aldershot; Brookfield: Edward Elgar Publishing Co. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/1-85898-237-5" title="Special:BookSources/1-85898-237-5"><bdi>1-85898-237-5</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">August 18,</span> 2008</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Chapter+5%3A+A+Life+in+Economics&rft.btitle=The+Makers+of+Modern+Economics&rft.place=Aldershot%3B+Brookfield&rft.edition=First&rft.pub=Edward+Elgar+Publishing+Co.&rft.date=1995&rft.isbn=1-85898-237-5&rft.aulast=Phelps&rft.aufirst=Edmund+S.&rft_id=http%3A%2F%2Fwww.columbia.edu%2F~esp2%2Fautobio1.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text">"The Golden Rule of Accumulation: a Fable for Growthmen"; <i>The American Economic Review</i>, Vol. 51, No. 4, pp. 638–43, 1961 <a rel="nofollow" class="external free" href="http://www.policonomics.com/wp-content/uploads/The-Golden-Rule-of-Accumulation-a-Fable-for-Growthmen.pdf">http://www.policonomics.com/wp-content/uploads/The-Golden-Rule-of-Accumulation-a-Fable-for-Growthmen.pdf</a><sup class="noprint Inline-Template"><span style="white-space: nowrap;">[<i><a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot"><span title=" Dead link tagged December 2017">permanent dead link</span></a></i><span style="visibility:hidden; color:transparent; padding-left:2px">‍</span>]</span></sup></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text">"The Golden Rule of Capital Accumulation" (see <a href="#Bibliography">Bibliography</a>)</span> </li> <li id="cite_note-Money-Wage-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-Money-Wage_4-0">^</a></b></span> <span class="reference-text">"Money-Wage Dynamics and Labor Market Equilibrium" (1968) (see <a href="#Bibliography">Bibliography</a>)</span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps,_Edmund_S.1967" class="citation journal cs1">Phelps, Edmund S. (1967). "Phillips Curves, Expectations of Inflation and Optimal Unemployment over Time". <i>Economica</i>. <b>34</b> (135): 254–281. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2552025">10.2307/2552025</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2552025">2552025</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Economica&rft.atitle=Phillips+Curves%2C+Expectations+of+Inflation+and+Optimal+Unemployment+over+Time&rft.volume=34&rft.issue=135&rft.pages=254-281&rft.date=1967&rft_id=info%3Adoi%2F10.2307%2F2552025&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2552025%23id-name%3DJSTOR&rft.au=Phelps%2C+Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.econlib.org/library/Enc/PhillipsCurve.html">"Phillips Curve"</a>. <i>The Library of Economics and Liberty</i>. Liberty Fund, Inc<span class="reference-accessdate">. Retrieved <span class="nowrap">February 11,</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Library+of+Economics+and+Liberty&rft.atitle=Phillips+Curve&rft_id=https%3A%2F%2Fwww.econlib.org%2Flibrary%2FEnc%2FPhillipsCurve.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><i>Microeconomic Foundations of Employment and Inflation Theory</i> by Phelps et al. (see <a href="#Bibliography">Bibliography</a>)</span> </li> <li id="cite_note-nobelinfo-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-nobelinfo_8-0">^</a></b></span> <span class="reference-text">The Royal Swedish Academy of Sciences (2006), "Edmund Phelps's Contributions to Macroeconomics"</span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text">"Stabilizing Powers of Monetary Policy under Rational Expectations" (see <a href="#Bibliography">Bibliography</a>)</span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCalvo1983" class="citation journal cs1">Calvo, Guillermo (1983). "Staggered Prices in a Utility-Maximizing Framework". <i>Journal of Monetary Economics</i>. <b>12</b> (3): 383–98. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2F0304-3932%2883%2990060-0">10.1016/0304-3932(83)90060-0</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Monetary+Economics&rft.atitle=Staggered+Prices+in+a+Utility-Maximizing+Framework&rft.volume=12&rft.issue=3&rft.pages=383-98&rft.date=1983&rft_id=info%3Adoi%2F10.1016%2F0304-3932%2883%2990060-0&rft.aulast=Calvo&rft.aufirst=Guillermo&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEdmund1979" class="citation book cs1">Edmund, Phelps (1979). <i>Studies in Macroeconomic Theory Vol. 1: Employment and Inflation</i>. New York: Academic Press. pp. 331–350. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780125540018" title="Special:BookSources/9780125540018"><bdi>9780125540018</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Studies+in+Macroeconomic+Theory+Vol.+1%3A+Employment+and+Inflation&rft.place=New+York&rft.pages=331-350&rft.pub=Academic+Press&rft.date=1979&rft.isbn=9780125540018&rft.aulast=Edmund&rft.aufirst=Phelps&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text">"<a rel="nofollow" class="external text" href="https://www.researchgate.net/profile/Edmund_Phelps/publication/4728049_The_Statistical_Theory_of_Racism_and_Sexism/links/5494a5de0cf2ec1337581a8f/The-Statistical-Theory-of-Racism-and-Sexism.pdf">The Statistical Theory of Racism and Sexism</a>" (see <a href="#Bibliography">Bibliography</a>)</span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text">"Inflation Policy and Unemployment Theory" (see <a href="#Bibliography">Bibliography</a>)</span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">"Individual Forecasting and Aggregate Outcomes" (see <a href="#Bibliography">Bibliography</a>)</span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWeinstein1987" class="citation journal cs1">Weinstein, Michael M. (Fall 1987). "Review of Political Economy: An Introductory Text, by Edmund S. Phelps". <i>Journal of Economic Perspectives</i>. <b>1</b> (2): 179–182. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1257%2Fjep.1.2.179">10.1257/jep.1.2.179</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Economic+Perspectives&rft.atitle=Review+of+Political+Economy%3A+An+Introductory+Text%2C+by+Edmund+S.+Phelps&rft.ssn=fall&rft.volume=1&rft.issue=2&rft.pages=179-182&rft.date=1987&rft_id=info%3Adoi%2F10.1257%2Fjep.1.2.179&rft.aulast=Weinstein&rft.aufirst=Michael+M.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text">Fitoussi, Jean-Paul and Edmund S. Phelps (1988). <i>The Slump in Europe: Open Economy Theory Reconstructed</i>. Basil Blackwell.</span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text">Phelps, Edmund S. and Kenneth J. Arrow (1991). "Proposed Reforms of the Economic System of Information and Decision in the USSR: Commentary and Advice". <i>Rivista di Politica Economica</i> 81</span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><i><a rel="nofollow" class="external text" href="http://www.columbia.edu/~esp2/">Edmund Phelps Home Page</a></i>. Columbia University</span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps2017" class="citation journal cs1">Phelps, Edmund S. (2017). "The Dynamism of Nations: Toward a Theory of Indigenous Innovation". <i>Capitalism and Society</i>. <b>12</b> (1). Social Science Research Network. <a href="/wiki/SSRN_(identifier)" class="mw-redirect" title="SSRN (identifier)">SSRN</a> <a rel="nofollow" class="external text" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2963105">2963105</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Capitalism+and+Society&rft.atitle=The+Dynamism+of+Nations%3A+Toward+a+Theory+of+Indigenous+Innovation&rft.volume=12&rft.issue=1&rft.date=2017&rft_id=https%3A%2F%2Fpapers.ssrn.com%2Fsol3%2Fpapers.cfm%3Fabstract_id%3D2963105%23id-name%3DSSRN&rft.aulast=Phelps&rft.aufirst=Edmund+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-Mass_Flourishing-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-Mass_Flourishing_20-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps2015" class="citation book cs1">Phelps, Edmund (March 22, 2015). <a rel="nofollow" class="external text" href="https://press.princeton.edu/titles/10058.html"><i>Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change</i></a>. Princeton University Press. p. 392. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780691165790" title="Special:BookSources/9780691165790"><bdi>9780691165790</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mass+Flourishing%3A+How+Grassroots+Innovation+Created+Jobs%2C+Challenge%2C+and+Change&rft.pages=392&rft.pub=Princeton+University+Press&rft.date=2015-03-22&rft.isbn=9780691165790&rft.aulast=Phelps&rft.aufirst=Edmund&rft_id=https%3A%2F%2Fpress.princeton.edu%2Ftitles%2F10058.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps2008" class="citation web cs1">Phelps, Edmund (November 4, 2008). <a rel="nofollow" class="external text" href="http://www.columbia.edu/~esp2/Keynes%20had%20no%20sure%20cure%20for%20slumps.pdf">"Keynes had no sure cure for slumps"</a> <span class="cs1-format">(PDF)</span>. <i>The <a href="/wiki/Financial_Times" title="Financial Times">Financial Times</a></i>. <a href="/wiki/Columbia_University" title="Columbia University">Columbia University</a><span class="reference-accessdate">. Retrieved <span class="nowrap">November 26,</span> 2011</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Financial+Times&rft.atitle=Keynes+had+no+sure+cure+for+slumps&rft.date=2008-11-04&rft.aulast=Phelps&rft.aufirst=Edmund&rft_id=http%3A%2F%2Fwww.columbia.edu%2F~esp2%2FKeynes%2520had%2520no%2520sure%2520cure%2520for%2520slumps.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps" class="citation web cs1">Phelps, Edmund. <a rel="nofollow" class="external text" href="http://www.edmundphelps.com/home">"Biography"</a>. <i>Personal Website</i><span class="reference-accessdate">. Retrieved <span class="nowrap">January 5,</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Personal+Website&rft.atitle=Biography&rft.aulast=Phelps&rft.aufirst=Edmund&rft_id=http%3A%2F%2Fwww.edmundphelps.com%2Fhome&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.spiegel.de/wirtschaft/soziales/edmund-phelps-ueber-donald-trump-wirtschaftspolitik-wie-im-faschismus-a-1131995.html">"Nobelpreisträger Phelps über Donald Trump: "Wirtschaftspolitik wie im Faschismus"<span class="cs1-kern-right"></span>"</a>. <i>Spiegel Online</i>. January 27, 2017.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Spiegel+Online&rft.atitle=Nobelpreistr%C3%A4ger+Phelps+%C3%BCber+Donald+Trump%3A+%22Wirtschaftspolitik+wie+im+Faschismus%22&rft.date=2017-01-27&rft_id=http%3A%2F%2Fwww.spiegel.de%2Fwirtschaft%2Fsoziales%2Fedmund-phelps-ueber-donald-trump-wirtschaftspolitik-wie-im-faschismus-a-1131995.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-corriere.it20200607-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-corriere.it20200607_24-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1 cs1-prop-foreign-lang-source"><a rel="nofollow" class="external text" href="https://www.corriere.it/cultura/20_giugno_07/per-rinascimento-culturale-dell-economia-dcacbef2-a803-11ea-b900-84da2a1f22a9.shtml">"Per un rinascimento culturale dell'economia"</a>. <i><a href="/wiki/Corriere_della_Sera" title="Corriere della Sera">Corriere della Sera</a></i> (in Italian). June 7, 2020<span class="reference-accessdate">. Retrieved <span class="nowrap">June 22,</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Corriere+della+Sera&rft.atitle=Per+un+rinascimento+culturale+dell%27economia&rft.date=2020-06-07&rft_id=https%3A%2F%2Fwww.corriere.it%2Fcultura%2F20_giugno_07%2Fper-rinascimento-culturale-dell-economia-dcacbef2-a803-11ea-b900-84da2a1f22a9.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-elpais.com20200607-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-elpais.com20200607_25-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1 cs1-prop-foreign-lang-source"><a rel="nofollow" class="external text" href="https://elpais.com/cultura/2020-06-07/por-un-renacimiento-cultural-de-la-economia-el-manifiesto-de-una-veintena-de-intelectuales-para-una-nueva-epoca.html">"Por un renacimiento cultural de la economía"</a>. <i><a href="/wiki/El_Pa%C3%ADs" title="El País">El País</a></i> (in Spanish). 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Retrieved <span class="nowrap">June 22,</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=El+Pa%C3%ADs&rft.atitle=Por+un+renacimiento+cultural+de+la+econom%C3%ADa&rft.date=2020-06-07&rft_id=https%3A%2F%2Felpais.com%2Fcultura%2F2020-06-07%2Fpor-un-renacimiento-cultural-de-la-economia-el-manifiesto-de-una-veintena-de-intelectuales-para-una-nueva-epoca.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-lemonde.fr20200607-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-lemonde.fr20200607_26-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1 cs1-prop-foreign-lang-source"><a rel="nofollow" class="external text" href="https://www.lemonde.fr/idees/article/2020/06/07/en-depit-de-son-importance-croissante-le-culturel-n-a-pas-suffisamment-ete-pense-comme-un-ecosysteme_6042057_3232.html">"En dépit de son importance croissante, le culturel n'a pas suffisamment été pensé comme un écosystème"</a>. <i><a href="/wiki/Le_Monde" title="Le Monde">Le Monde</a></i> (in French). June 7, 2020<span class="reference-accessdate">. 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Phelps – Autobiography"</a>. Nobelprize.org.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Edmund+S.+Phelps+%E2%80%93+Autobiography&rft.pub=Nobelprize.org&rft_id=http%3A%2F%2Fnobelprize.org%2Fnobel_prizes%2Feconomics%2Flaureates%2F2006%2Fphelps-autobio.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><i>Stop Acting Rich and Live Like a Millionaire</i>, Thomas Stanley, 2009, John Wiley & Sons, Kindle location 2885</span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation pressrelease cs1"><a rel="nofollow" class="external text" href="http://nobelprize.org/nobel_prizes/economics/laureates/2006/press.html">"Short run – Long run"</a> (Press release). 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Retrieved <span class="nowrap">August 17,</span> 2008</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Short+run+%E2%80%93+Long+run&rft.pub=The+Royal+Swedish+Academy+of+Sciences&rft.date=2006-10-09&rft_id=http%3A%2F%2Fnobelprize.org%2Fnobel_prizes%2Feconomics%2Flaureates%2F2006%2Fpress.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.columbia.edu/~esp2/">"Edmund Phelps Home Page"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Edmund+Phelps+Home+Page&rft_id=http%3A%2F%2Fwww.columbia.edu%2F~esp2%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> <li id="cite_note-Curriculum_Vitae-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-Curriculum_Vitae_31-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPhelps" class="citation web cs1">Phelps, Edmund. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190622033733/https://capitalism.columbia.edu/files/ccs/person/cv/2019/cv_january_16_2019.pdf">"Curriculum Vitae"</a> <span class="cs1-format">(PDF)</span>. <i>Center on Capitalism and Society</i>. Archived from <a rel="nofollow" class="external text" href="https://capitalism.columbia.edu/files/ccs/person/cv/2019/cv_january_16_2019.pdf">the original</a> <span class="cs1-format">(PDF)</span> on June 22, 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">February 11,</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Center+on+Capitalism+and+Society&rft.atitle=Curriculum+Vitae&rft.aulast=Phelps&rft.aufirst=Edmund&rft_id=https%3A%2F%2Fcapitalism.columbia.edu%2Ffiles%2Fccs%2Fperson%2Fcv%2F2019%2Fcv_january_16_2019.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Edmund_Phelps&action=edit&section=10" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Wikiquote-logo.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/34px-Wikiquote-logo.svg.png" decoding="async" width="34" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/51px-Wikiquote-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/68px-Wikiquote-logo.svg.png 2x" data-file-width="300" data-file-height="355" /></a></span></div> <div class="side-box-text plainlist">Wikiquote has quotations related to <i><b><a href="https://en.wikiquote.org/wiki/Special:Search/Edmund_Phelps" class="extiw" title="q:Special:Search/Edmund Phelps">Edmund Phelps</a></b></i>.</div></div> </div> <ul><li><a rel="nofollow" class="external text" href="http://www.columbia.edu/~esp2/">Edmund Phelps official webpage</a> at <a href="/wiki/Columbia_University" title="Columbia University">Columbia University</a></li> <li><a rel="nofollow" class="external text" href="https://www.c-span.org/person/?1003097">Appearances</a> on <a href="/wiki/C-SPAN" title="C-SPAN">C-SPAN</a></li></ul> <dl><dt>Nobel Prize</dt></dl> <ul><li><a rel="nofollow" class="external text" href="http://www.columbia.edu/cu/news/06/10/phelps061009.html">Professor Edmund S. Phelps Wins 2006 Nobel Prize in Economics</a>, a Columbia University press release</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20070103074826/http://nobelprize.org/nobel_prizes/economics/laureates/2006/ecoadv06.pdf">"Edmund Phelps's Contributions to Macroeconomics"</a> <span class="cs1-format">(PDF)</span>. nobelprize.org. Archived from <a rel="nofollow" class="external text" href="http://nobelprize.org/nobel_prizes/economics/laureates/2006/ecoadv06.pdf">the original</a> <span class="cs1-format">(PDF)</span> on January 3, 2007<span class="reference-accessdate">. Retrieved <span class="nowrap">November 26,</span> 2011</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Edmund+Phelps%27s+Contributions+to+Macroeconomics&rft.pub=nobelprize.org&rft_id=http%3A%2F%2Fnobelprize.org%2Fnobel_prizes%2Feconomics%2Flaureates%2F2006%2Fecoadv06.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFUchitelle2006" class="citation news cs1">Uchitelle, Louis (October 10, 2006). <a rel="nofollow" class="external text" href="https://www.nytimes.com/2006/10/10/business/10nobel.html">"American Wins Nobel in Economics"</a>. <i>The New York Times</i><span class="reference-accessdate">. Retrieved <span class="nowrap">February 11,</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=American+Wins+Nobel+in+Economics&rft.date=2006-10-10&rft.aulast=Uchitelle&rft.aufirst=Louis&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2006%2F10%2F10%2Fbusiness%2F10nobel.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEdmund+Phelps" class="Z3988"></span></li> <li><a rel="nofollow" class="external text" href="https://www.nobelprize.org/laureate/807">Edmund S. Phelps</a> on Nobelprize.org <span class="mw-valign-text-top noprint" typeof="mw:File/Frameless"><a href="https://www.wikidata.org/wiki/Q192566#P8024" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></span></li></ul> <table class="wikitable succession-box noprint" style="margin:0.5em auto; font-size:small;clear:both;"> <tbody><tr> <th colspan="3" style="border-top: 5px solid #FFF179;">Awards </th></tr> <tr style="text-align:center;"> <td style="width:30%;" rowspan="1">Preceded by<div style="font-weight: bold"><a href="/wiki/Robert_J._Aumann" class="mw-redirect" title="Robert J. Aumann">Robert J. Aumann</a><br /><a href="/wiki/Thomas_C._Schelling" class="mw-redirect" title="Thomas C. Schelling">Thomas C. Schelling</a></div> </td> <td style="width: 40%; text-align: center;" rowspan="1"><b> <a href="/wiki/List_of_Nobel_Memorial_Prize_laureates_in_Economics" class="mw-redirect" title="List of Nobel Memorial Prize laureates in Economics">Laureate of the Nobel Memorial Prize in Economics</a> </b><br />2006 </td> <td style="width: 30%; text-align: center;" rowspan="1">Succeeded by<div style="font-weight: bold"><a href="/wiki/Leonid_Hurwicz" title="Leonid Hurwicz">Leonid Hurwicz</a><br /><a href="/wiki/Eric_S._Maskin" class="mw-redirect" title="Eric S. Maskin">Eric S. Maskin</a><br /><a href="/wiki/Roger_B._Myerson" class="mw-redirect" title="Roger B. Myerson">Roger B. Myerson</a></div> </td></tr> </tbody></table> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output .navbox-subgroup{background-color:#fdfdfd}.mw-parser-output .navbox-list{line-height:1.5em;border-color:#fdfdfd}.mw-parser-output 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.navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style></div><div role="navigation" class="navbox" aria-labelledby="Keynesians" style="padding:3px"><table class="nowraplinks mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Keynesians" title="Template:Keynesians"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Keynesians" title="Template talk:Keynesians"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Keynesians" title="Special:EditPage/Template:Keynesians"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Keynesians" style="font-size:114%;margin:0 4em"><a href="/wiki/Keynesian_economics" title="Keynesian economics"><em style="font-style:normal;">Keynesians</em></a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Founder</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">John Maynard Keynes</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">Neo-Keynesians</a></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Gardner_Ackley" title="Gardner Ackley">Gardner Ackley</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">William Baumol</a></li> <li><a href="/wiki/James_Duesenberry" title="James Duesenberry">James Duesenberry</a></li> <li><a href="/wiki/Robert_Eisner" title="Robert Eisner">Robert Eisner</a></li> <li><a href="/wiki/Trygve_Haavelmo" title="Trygve Haavelmo">Trygve Haavelmo</a></li> <li><a href="/wiki/Alvin_Hansen" title="Alvin Hansen">Alvin Hansen</a></li> <li><a href="/wiki/Roy_Harrod" title="Roy Harrod">Roy Harrod</a></li> <li><a href="/wiki/Walter_Heller" title="Walter Heller">Walter Heller</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">John Hicks</a></li> <li><a href="/wiki/Lawrence_Klein" title="Lawrence Klein">Lawrence Klein</a></li> <li><a href="/wiki/James_Meade" title="James Meade">James Meade</a></li> <li><a href="/wiki/Lloyd_Metzler" title="Lloyd Metzler">Lloyd Metzler</a></li> <li><a href="/wiki/Franco_Modigliani" title="Franco Modigliani">Franco Modigliani</a></li> <li><a href="/wiki/Robert_Mundell" title="Robert Mundell">Robert Mundell</a></li> <li><a href="/wiki/Arthur_Melvin_Okun" title="Arthur Melvin Okun">Arthur Melvin Okun</a></li> <li><a href="/wiki/Don_Patinkin" title="Don Patinkin">Don Patinkin</a></li> <li><a href="/wiki/Bill_Phillips_(economist)" title="Bill Phillips (economist)">Bill Phillips</a></li> <li><a href="/wiki/William_Poole_(economist)" title="William Poole (economist)">William Poole</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Robert Solow</a></li> <li><a href="/wiki/James_Tobin" title="James Tobin">James Tobin</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-Keynesians</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Victoria_Chick" title="Victoria Chick">Victoria Chick</a></li> <li><a href="/wiki/Paul_Davidson_(economist)" title="Paul Davidson (economist)">Paul Davidson</a></li> <li><a href="/wiki/Evsey_Domar" title="Evsey Domar">Evsey Domar</a></li> <li><a href="/wiki/James_K._Galbraith" title="James K. Galbraith">James K. Galbraith</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">John Kenneth Galbraith</a></li> <li><a href="/wiki/Wynne_Godley" title="Wynne Godley">Wynne Godley</a></li> <li><a href="/wiki/Myron_J._Gordon" title="Myron J. Gordon">Myron J. Gordon</a></li> <li><a href="/wiki/Geoffrey_Harcourt" title="Geoffrey Harcourt">Geoff Harcourt</a></li> <li><a href="/wiki/Michael_Hudson_(economist)" title="Michael Hudson (economist)">Michael Hudson</a></li> <li><a href="/wiki/Richard_Kahn,_Baron_Kahn" title="Richard Kahn, Baron Kahn">Richard Kahn</a></li> <li><a href="/wiki/Nicholas_Kaldor" title="Nicholas Kaldor">Nicholas Kaldor</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Michał Kalecki</a></li> <li><a href="/wiki/Steve_Keen" title="Steve Keen">Steve Keen</a></li> <li><a href="/wiki/Jan_Kregel" title="Jan Kregel">Jan Kregel</a></li> <li><a href="/wiki/Marc_Lavoie" title="Marc Lavoie">Marc Lavoie</a></li> <li><a href="/wiki/Abba_P._Lerner" title="Abba P. Lerner">Abba P. Lerner</a></li> <li><a href="/wiki/Hyman_Minsky" title="Hyman Minsky">Hyman Minsky</a></li> <li><a href="/wiki/Bill_Mitchell_(economist)" title="Bill Mitchell (economist)">Bill Mitchell</a></li> <li><a href="/wiki/Basil_Moore" title="Basil Moore">Basil Moore</a></li> <li><a href="/wiki/Steven_Pressman_(economist)" title="Steven Pressman (economist)">Steven Pressman</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Joan Robinson</a></li> <li><a href="/wiki/G._L._S._Shackle" title="G. L. S. Shackle">G. L. S. Shackle</a></li> <li><a href="/wiki/Pavlina_R._Tcherneva" title="Pavlina R. Tcherneva">Pavlina R. Tcherneva</a></li> <li><a href="/wiki/Anthony_Thirlwall" class="mw-redirect" title="Anthony Thirlwall">Anthony Thirlwall</a></li> <li><a href="/wiki/William_Vickrey" title="William Vickrey">William Vickrey</a></li> <li><a href="/wiki/Sidney_Weintraub_(economist_born_1914)" class="mw-redirect" title="Sidney Weintraub (economist born 1914)">Sidney Weintraub</a></li> <li><a href="/wiki/L._Randall_Wray" title="L. Randall Wray">L. Randall Wray</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New Keynesians</a></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/George_Akerlof" title="George Akerlof">George Akerlof</a></li> <li><a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a></li> <li><a href="/wiki/Olivier_Blanchard" title="Olivier Blanchard">Olivier Blanchard</a></li> <li><a href="/wiki/Alan_Blinder" title="Alan Blinder">Alan Blinder</a></li> <li><a href="/wiki/Guillermo_Calvo" title="Guillermo Calvo">Guillermo Calvo</a></li> <li><a href="/wiki/Richard_Clarida" title="Richard Clarida">Richard Clarida</a></li> <li><a href="/wiki/J._Bradford_DeLong" class="mw-redirect" title="J. Bradford DeLong">Brad DeLong</a></li> <li><a href="/wiki/Huw_Dixon" title="Huw Dixon">Huw Dixon</a></li> <li><a href="/wiki/Stanley_Fischer" title="Stanley Fischer">Stanley Fischer</a></li> <li><a href="/wiki/Jordi_Gal%C3%AD" title="Jordi Galí">Jordi Galí</a></li> <li><a href="/wiki/Mark_Gertler_(economist)" title="Mark Gertler (economist)">Mark Gertler</a></li> <li><a href="/wiki/Robert_J._Gordon" title="Robert J. Gordon">Robert J. Gordon</a></li> <li><a href="/wiki/Stephany_Griffith-Jones" title="Stephany Griffith-Jones">Stephany Griffith-Jones</a></li> <li><a href="/wiki/Nobuhiro_Kiyotaki" title="Nobuhiro Kiyotaki">Nobuhiro Kiyotaki</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a></li> <li><a href="/wiki/Greg_Mankiw" title="Greg Mankiw">Greg Mankiw</a></li> <li><a href="/wiki/Marc_Melitz" title="Marc Melitz">Marc Melitz</a></li> <li><a href="/wiki/Maurice_Obstfeld" title="Maurice Obstfeld">Maurice Obstfeld</a></li> <li><a class="mw-selflink selflink">Edmund Phelps</a></li> <li><a href="/wiki/Ricardo_Reis" title="Ricardo Reis">Ricardo Reis</a></li> <li><a href="/wiki/Kenneth_Rogoff" title="Kenneth Rogoff">Kenneth Rogoff</a></li> <li><a href="/wiki/David_Romer" title="David Romer">David Romer</a></li> <li><a href="/wiki/Julio_Rotemberg" title="Julio Rotemberg">Julio Rotemberg</a></li> <li><a href="/wiki/Robert_J._Shiller" title="Robert J. Shiller">Robert Shiller</a></li> <li><a href="/wiki/Andrei_Shleifer" title="Andrei Shleifer">Andrei Shleifer</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph Stiglitz</a></li> <li><a href="/wiki/Lawrence_Summers" title="Lawrence Summers">Lawrence Summers</a></li> <li><a href="/wiki/John_B._Taylor" title="John B. Taylor">John B. Taylor</a></li> <li><a href="/wiki/Michael_Woodford_(economist)" class="mw-redirect" title="Michael Woodford (economist)">Michael Woodford</a></li> <li><a href="/wiki/Janet_Yellen" title="Janet Yellen">Janet Yellen</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="div-col"> <div class="CategoryTreeTag" data-ct-options="{"mode":20,"hideprefix":20,"showcount":false,"namespaces":false,"notranslations":false}"><div class="CategoryTreeSection"><div class="CategoryTreeItem"><span class="CategoryTreeBullet"><a class="CategoryTreeToggle" data-ct-title="Keynesian_economics" aria-expanded="false"></a> </span> <bdi dir="ltr"><a href="/wiki/Category:Keynesian_economics" title="Category:Keynesian economics">Keynesian economics</a></bdi></div><div class="CategoryTreeChildren" style="display:none"></div></div></div> </div></div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Laureates_of_the_Sveriges_Riksbank_Prize_in_Economic_Sciences" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="3"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Nobel_Memorial_Prize_in_Economic_Sciences_laureates" title="Template:Nobel Memorial Prize in Economic Sciences laureates"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Nobel_Memorial_Prize_in_Economic_Sciences_laureates" title="Template talk:Nobel Memorial Prize in Economic Sciences laureates"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Nobel_Memorial_Prize_in_Economic_Sciences_laureates" title="Special:EditPage/Template:Nobel Memorial Prize in Economic Sciences laureates"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Laureates_of_the_Sveriges_Riksbank_Prize_in_Economic_Sciences" style="font-size:114%;margin:0 4em"><a href="/wiki/List_of_Nobel_Memorial_Prize_laureates_in_Economic_Sciences" title="List of Nobel Memorial Prize laureates in Economic Sciences">Laureates</a> of the <a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Sveriges Riksbank Prize in Economic Sciences</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">1969–1975</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap">1969: <a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Ragnar Frisch</a> / <a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Jan Tinbergen</a></span></li> <li><span class="nowrap">1970: <a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul A. Samuelson</a></span></li> <li><span class="nowrap">1971: <a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Simon Kuznets</a></span></li> <li><span class="nowrap">1972: <a href="/wiki/John_Hicks" title="John Hicks">John R. Hicks</a> / <a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Kenneth J. Arrow</a></span></li> <li><span class="nowrap">1973: <a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Wassily Leontief</a></span></li> <li><span class="nowrap">1974: <a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Gunnar Myrdal</a> / <a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Friedrich August von Hayek</a></span></li> <li><span class="nowrap">1975: <a href="/wiki/Leonid_Kantorovich" title="Leonid Kantorovich">Leonid Vitaliyevich Kantorovich</a> / <a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Tjalling C. Koopmans</a></span></li></ul> </div></td><td class="noviewer navbox-image" rowspan="3" style="width:1px;padding:0 0 0 2px"><div><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/ed/Nobel_Prize.png/80px-Nobel_Prize.png" decoding="async" width="80" height="79" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/ed/Nobel_Prize.png/120px-Nobel_Prize.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/ed/Nobel_Prize.png/160px-Nobel_Prize.png 2x" data-file-width="500" data-file-height="492" /></span></span></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">1976–2000</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap">1976: <a href="/wiki/Milton_Friedman" title="Milton Friedman">Milton Friedman</a></span></li> <li><span class="nowrap">1977: <a href="/wiki/Bertil_Ohlin" title="Bertil Ohlin">Bertil Ohlin</a> / <a href="/wiki/James_Meade" title="James Meade">James E. Meade</a></span></li> <li><span class="nowrap">1978: <a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Herbert A. Simon</a></span></li> <li><span class="nowrap">1979: <a href="/wiki/Theodore_Schultz" title="Theodore Schultz">Theodore W. Schultz</a> / <a href="/wiki/W._Arthur_Lewis" title="W. Arthur Lewis">Sir Arthur Lewis</a></span></li> <li><span class="nowrap">1980: <a href="/wiki/Lawrence_Klein" title="Lawrence Klein">Lawrence R. Klein</a></span></li> <li><span class="nowrap">1981: <a href="/wiki/James_Tobin" title="James Tobin">James Tobin</a></span></li> <li><span class="nowrap">1982: <a href="/wiki/George_Stigler" title="George Stigler">George J. Stigler</a></span></li> <li><span class="nowrap">1983: <a href="/wiki/G%C3%A9rard_Debreu" title="Gérard Debreu">Gérard Debreu</a></span></li> <li><span class="nowrap">1984: <a href="/wiki/Richard_Stone" title="Richard Stone">Richard Stone</a></span></li> <li><span class="nowrap">1985: <a href="/wiki/Franco_Modigliani" title="Franco Modigliani">Franco Modigliani</a></span></li> <li><span class="nowrap">1986: <a href="/wiki/James_M._Buchanan" title="James M. Buchanan">James M. Buchanan Jr.</a></span></li> <li><span class="nowrap">1987: <a href="/wiki/Robert_Solow" title="Robert Solow">Robert M. Solow</a></span></li> <li><span class="nowrap">1988: <a href="/wiki/Maurice_Allais" title="Maurice Allais">Maurice Allais</a></span></li> <li><span class="nowrap">1989: <a href="/wiki/Trygve_Haavelmo" title="Trygve Haavelmo">Trygve Haavelmo</a></span></li> <li><span class="nowrap">1990: <a href="/wiki/Harry_Markowitz" title="Harry Markowitz">Harry M. Markowitz</a> / <a href="/wiki/Merton_Miller" title="Merton Miller">Merton H. Miller</a> / <a href="/wiki/William_F._Sharpe" title="William F. Sharpe">William F. Sharpe</a></span></li> <li><span class="nowrap">1991: <a href="/wiki/Ronald_Coase" title="Ronald Coase">Ronald H. Coase</a></span></li> <li><span class="nowrap">1992: <a href="/wiki/Gary_Becker" title="Gary Becker">Gary S. Becker</a></span></li> <li><span class="nowrap">1993: <a href="/wiki/Robert_Fogel" title="Robert Fogel">Robert W. Fogel</a> / <a href="/wiki/Douglass_North" title="Douglass North">Douglass C. North</a></span></li> <li><span class="nowrap">1994: <a href="/wiki/John_Harsanyi" title="John Harsanyi">John C. Harsanyi</a> / <a href="/wiki/John_Forbes_Nash_Jr." title="John Forbes Nash Jr.">John F. Nash Jr.</a> / <a href="/wiki/Reinhard_Selten" title="Reinhard Selten">Reinhard Selten</a></span></li> <li><span class="nowrap">1995: <a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Robert E. Lucas Jr.</a></span></li> <li><span class="nowrap">1996: <a href="/wiki/James_Mirrlees" title="James Mirrlees">James A. Mirrlees</a> / <a href="/wiki/William_Vickrey" title="William Vickrey">William Vickrey</a></span></li> <li><span class="nowrap">1997: <a href="/wiki/Robert_C._Merton" title="Robert C. Merton">Robert C. Merton</a> / <a href="/wiki/Myron_Scholes" title="Myron Scholes">Myron S. Scholes</a></span></li> <li><span class="nowrap">1998: <a href="/wiki/Amartya_Sen" title="Amartya Sen">Amartya Sen</a></span></li> <li><span class="nowrap">1999: <a href="/wiki/Robert_Mundell" title="Robert Mundell">Robert A. Mundell</a></span></li> <li><span class="nowrap">2000: <a href="/wiki/James_Heckman" title="James Heckman">James J. Heckman</a> / <a href="/wiki/Daniel_McFadden" title="Daniel McFadden">Daniel L. McFadden</a></span></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">2001–present</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="nowrap">2001: <a href="/wiki/George_Akerlof" title="George Akerlof">George A. Akerlof</a> / <a href="/wiki/Michael_Spence" title="Michael Spence">A. Michael Spence</a> / <a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph E. Stiglitz</a></span></li> <li><span class="nowrap">2002: <a href="/wiki/Daniel_Kahneman" title="Daniel Kahneman">Daniel Kahneman</a> / <a href="/wiki/Vernon_L._Smith" title="Vernon L. Smith">Vernon L. Smith</a></span></li> <li><span class="nowrap">2003: <a href="/wiki/Robert_F._Engle" title="Robert F. Engle">Robert F. Engle III</a> / <a href="/wiki/Clive_Granger" title="Clive Granger">Clive W.J. Granger</a></span></li> <li><span class="nowrap">2004: <a href="/wiki/Finn_E._Kydland" title="Finn E. Kydland">Finn E. Kydland</a> / <a href="/wiki/Edward_C._Prescott" title="Edward C. Prescott">Edward C. Prescott</a></span></li> <li><span class="nowrap">2005: <a href="/wiki/Robert_Aumann" title="Robert Aumann">Robert J. Aumann</a> / <a href="/wiki/Thomas_Schelling" title="Thomas Schelling">Thomas C. Schelling</a></span></li> <li><span class="nowrap">2006: <a class="mw-selflink selflink">Edmund S. Phelps</a></span></li> <li><span class="nowrap">2007: <a href="/wiki/Leonid_Hurwicz" title="Leonid Hurwicz">Leonid Hurwicz</a> / <a href="/wiki/Eric_Maskin" title="Eric Maskin">Eric S. Maskin</a> / <a href="/wiki/Roger_Myerson" title="Roger Myerson">Roger B. Myerson</a></span></li> <li><span class="nowrap">2008: <a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a></span></li> <li><span class="nowrap">2009: <a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Elinor Ostrom</a> / <a href="/wiki/Oliver_E._Williamson" title="Oliver E. Williamson">Oliver E. Williamson</a></span></li> <li><span class="nowrap">2010: <a href="/wiki/Peter_Diamond" title="Peter Diamond">Peter A. Diamond</a> / <a href="/wiki/Dale_T._Mortensen" title="Dale T. Mortensen">Dale T. Mortensen</a> / <a href="/wiki/Christopher_A._Pissarides" title="Christopher A. Pissarides">Christopher A. Pissarides</a></span></li> <li><span class="nowrap">2011: <a href="/wiki/Thomas_J._Sargent" title="Thomas J. Sargent">Thomas J. Sargent</a> / <a href="/wiki/Christopher_A._Sims" title="Christopher A. Sims">Christopher A. Sims</a></span></li> <li><span class="nowrap">2012: <a href="/wiki/Alvin_E._Roth" title="Alvin E. Roth">Alvin E. Roth</a> / <a href="/wiki/Lloyd_Shapley" title="Lloyd Shapley">Lloyd S. Shapley</a></span></li> <li><span class="nowrap">2013: <a href="/wiki/Eugene_Fama" title="Eugene Fama">Eugene F. Fama</a> / <a href="/wiki/Lars_Peter_Hansen" title="Lars Peter Hansen">Lars Peter Hansen</a> / <a href="/wiki/Robert_J._Shiller" title="Robert J. Shiller">Robert J. Shiller</a></span></li> <li><span class="nowrap">2014: <a href="/wiki/Jean_Tirole" title="Jean Tirole">Jean Tirole</a></span></li> <li><span class="nowrap">2015: <a href="/wiki/Angus_Deaton" title="Angus Deaton">Angus Deaton</a></span></li> <li><span class="nowrap">2016: <a href="/wiki/Oliver_Hart_(economist)" title="Oliver Hart (economist)">Oliver Hart</a> / <a href="/wiki/Bengt_Holmstr%C3%B6m" title="Bengt Holmström">Bengt Holmström</a></span></li> <li><span class="nowrap">2017: <a href="/wiki/Richard_Thaler" title="Richard Thaler">Richard H. Thaler</a></span></li> <li><span class="nowrap">2018: <a href="/wiki/William_Nordhaus" title="William Nordhaus">William Nordhaus</a> / <a href="/wiki/Paul_Romer" title="Paul Romer">Paul Romer</a></span></li> <li><span class="nowrap"><a href="/wiki/2019_Nobel_Memorial_Prize_in_Economic_Sciences" title="2019 Nobel Memorial Prize in Economic Sciences">2019</a>: <a href="/wiki/Abhijit_Banerjee" title="Abhijit Banerjee">Abhijit Banerjee</a> / <a href="/wiki/Esther_Duflo" title="Esther Duflo">Esther Duflo</a> / <a href="/wiki/Michael_Kremer" title="Michael Kremer">Michael Kremer</a></span></li> <li><span class="nowrap"><a href="/wiki/2020_Nobel_Memorial_Prize_in_Economic_Sciences" title="2020 Nobel Memorial Prize in Economic Sciences">2020</a>: <a href="/wiki/Paul_Milgrom" title="Paul Milgrom">Paul Milgrom</a> / <a href="/wiki/Robert_B._Wilson" title="Robert B. Wilson">Robert B. Wilson</a></span></li> <li><span class="nowrap"><a href="/wiki/2021_Nobel_Memorial_Prize_in_Economic_Sciences" title="2021 Nobel Memorial Prize in Economic Sciences">2021</a>: <a href="/wiki/David_Card" title="David Card">David Card</a> / <a href="/wiki/Joshua_Angrist" title="Joshua Angrist">Joshua Angrist</a> / <a href="/wiki/Guido_Imbens" title="Guido Imbens">Guido Imbens</a></span></li> <li><span class="nowrap"><a href="/wiki/2022_Nobel_Memorial_Prize_in_Economic_Sciences" title="2022 Nobel Memorial Prize in Economic Sciences">2022</a>: <a href="/wiki/Ben_Bernanke" title="Ben Bernanke">Ben Bernanke</a> / <a href="/wiki/Douglas_Diamond" title="Douglas Diamond">Douglas Diamond</a> / <a href="/wiki/Philip_H._Dybvig" title="Philip H. Dybvig">Philip H. Dybvig</a></span></li> <li><span class="nowrap"><a href="/wiki/2023_Nobel_Memorial_Prize_in_Economic_Sciences" title="2023 Nobel Memorial Prize in Economic Sciences">2023</a>: <a href="/wiki/Claudia_Goldin" title="Claudia Goldin">Claudia Goldin</a></span></li> <li><span class="nowrap">2024: <a href="/wiki/Daron_Acemoglu" title="Daron Acemoglu">Daron Acemoglu</a> / <a href="/wiki/Simon_Johnson_(economist)" title="Simon Johnson (economist)">Simon Johnson</a> / <a href="/wiki/James_A._Robinson" title="James A. Robinson">James A. Robinson</a></span></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r886047488">.mw-parser-output .nobold{font-weight:normal}</style></div><div role="navigation" class="navbox" aria-labelledby="2006_Nobel_Prize_laureates" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:2006_Nobel_Prize_winners" title="Template:2006 Nobel Prize winners"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:2006_Nobel_Prize_winners" title="Template talk:2006 Nobel Prize winners"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:2006_Nobel_Prize_winners" title="Special:EditPage/Template:2006 Nobel Prize winners"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="2006_Nobel_Prize_laureates" style="font-size:114%;margin:0 4em">2006 <a href="/wiki/Nobel_Prize" title="Nobel Prize">Nobel Prize</a> laureates</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Chemistry" title="Nobel Prize in Chemistry">Chemistry</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Roger_D._Kornberg" title="Roger D. Kornberg">Roger D. Kornberg</a> (United States)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Literature" title="Nobel Prize in Literature">Literature</a> (<a href="/wiki/2006_Nobel_Prize_in_Literature" title="2006 Nobel Prize in Literature">2006</a>)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Orhan_Pamuk" title="Orhan Pamuk">Orhan Pamuk</a> (Turkey)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Peace_Prize" title="Nobel Peace Prize">Peace</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Muhammad_Yunus" title="Muhammad Yunus">Muhammad Yunus</a> (Bangladesh)</li> <li><a href="/wiki/Grameen_Bank" title="Grameen Bank">Grameen Bank</a> (Bangladesh)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Physics" title="Nobel Prize in Physics">Physics</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/John_C._Mather" title="John C. Mather">John C. Mather</a> (United States)</li> <li><a href="/wiki/George_Smoot" title="George Smoot">George Smoot</a> (United States)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Prize_in_Physiology_or_Medicine" title="Nobel Prize in Physiology or Medicine">Physiology or Medicine</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Andrew_Fire" title="Andrew Fire">Andrew Fire</a> (United States)</li> <li><a href="/wiki/Craig_Mello" title="Craig Mello">Craig Mello</a> (United States)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Nobel_Memorial_Prize_in_Economic_Sciences" title="Nobel Memorial Prize in Economic Sciences">Economic Sciences</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a class="mw-selflink selflink">Edmund Phelps</a> (United States)</li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <dl><dt><span class="nobold"><a href="/wiki/List_of_Nobel_laureates" title="List of Nobel laureates">Nobel Prize recipients</a></span></dt> <dd><a href="/wiki/2001_Nobel_Prizes" title="2001 Nobel Prizes">2001</a></dd> <dd><a href="/wiki/2002_Nobel_Prizes" title="2002 Nobel Prizes">2002</a></dd> <dd><a href="/wiki/2003_Nobel_Prizes" title="2003 Nobel Prizes">2003</a></dd> <dd><a href="/wiki/2004_Nobel_Prizes" title="2004 Nobel Prizes">2004</a></dd> <dd><a href="/wiki/2005_Nobel_Prizes" title="2005 Nobel Prizes">2005</a></dd> <dd><b>2006 </b></dd> <dd><a href="/wiki/2007_Nobel_Prizes" title="2007 Nobel Prizes">2007</a></dd> <dd><a href="/wiki/2008_Nobel_Prizes" title="2008 Nobel Prizes">2008</a></dd> <dd><a href="/wiki/2009_Nobel_Prizes" title="2009 Nobel Prizes">2009</a></dd> <dd><a href="/wiki/2010_Nobel_Prizes" title="2010 Nobel Prizes">2010</a></dd> <dd><a href="/wiki/2011_Nobel_Prizes" title="2011 Nobel Prizes">2011</a></dd></dl> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q192566#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div 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style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://ci.nii.ac.jp/author/DA00468647?l=en">CiNii</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://www.mathgenealogy.org/id.php?id=209983">Mathematics Genealogy Project</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://www.scopus.com/authid/detail.uri?authorId=7005985542">Scopus</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://zbmath.org/authors/?q=ai:phelps.edmund-s">zbMATH</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://dblp.org/pid/99/11291">DBLP</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://mathscinet.ams.org/mathscinet/MRAuthorID/517656">MathSciNet</a></span></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" 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