Nobel Prizes and Laureates

Nobel Prizes and Laureates

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2006
Edmund S. Phelps

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Useful Links / Further Reading

The Laureate
Edmund S. Phelps, Department of Economics, Columbia University, NY, USA
Most of Phelps's articles and books are relatively technical, but he has also written a number of more popular texts that can be read by laymen. A good example is his book Inflation Policy and Unemployment Theory (New York: Norton; London: Macmillan, 1972) where he discusses inflation and unemployment policy using the theories that he developed in the late 1960s.
Another relatively accessible paper is "The origins and further development of the natural rate of unemployment" published in Rod Cross (ed.) The Natural Rate of Unemployment, Reflections on 25 Years of the Hypothesis (Cambridge University Press, 1995).
In the essay "A life in economics" published in Arnold Heertje (ed.), The Makers of Modern Economics, vol. II (Edward Elgar, 1995) Phelps gives an account of his research career.
Phelps's article "The golden rule of accumulation: A fable for growthmen", in which he analyzes the golden rule of capital formation is an entertaining classic. It was published in The American Economic Review, vol. 51, September 1961.
Another classic is the 'Phelps volume', the anthology that Phelps published in 1970 under the title Microeconomic Foundations of Employment and Inflation Theory (Norton).


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MLA style: "The Prize in Economics 2006 - Further Reading". Nobel Media AB 2014. Web. 4 Oct 2015. <>