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Edmund Strother Phelps, Jr. is an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences. Early in his career he became renowned for his research at Yale's Cowles Foundation in the first half of the 1960s on the sources of economic growth. His demonstration of the Golden Rule savings rate, a concept first devised by John von Neumann and Maurice Allais, started... MORE Edmund Strother Phelps, Jr. is an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences. Early in his career he became renowned for his research at Yale's Cowles Foundation in the first half of the 1960s on the sources of economic growth. His demonstration of the Golden Rule savings rate, a concept first devised by John von Neumann and Maurice Allais, started a wave of research on how much a nation ought to spend on present consumption rather than save and invest for future generations. His most seminal work inserted a microfoundation—one featuring imperfect information, incomplete knowledge and expectations about wages and prices—to support a macroeconomic theory of employment determination and price-wage dynamics. This led to his development of the natural rate of unemployment—its existence and the mechanism governing its size. Phelps has been McVickar Professor of Political Economy at Columbia University since 1982. He is also the director of Columbia's Center on Capitalism and Society. LESS |
The Russia Forum 2010-02-04 Currencies: Finding Ne... |
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Troika Dialog has kindly granted me a written permission to publish this video. For more information about The Russia Forum and original (full version) video please visit: 2010.therussiaforum.com Moderator: Evgeny Gavrilenkov Speakers: Nassim Taleb, Marc Faber, Martin Gilman, Edmund Phelps, Michael Power, Nouriel Roubini, Michael Wexler If you want more economic videos from Troika uploaded to this channel give this video a thumbs up :) Troika Dialog is a founder of the Russia Forum, the leading annual Russia and CIS-focused investors' conference.
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