Edmund Phelps Quotes

1 Sourced Quote

The stampede toward rational expectations — widely thought to be a revolution, though it was only a generalization of the neoclassical idea of equilibrium—derailed the expectations-driven model building that had just left the station. In the end, this way of modeling has not illuminated how the world economy works.

Edmund Phelps

Edmund Phelps

Edmund Phelps

Creative Commons

Born: July 26, 1933 (age 92)

Bio: Edmund Strother Phelps, Jr. is an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences.

Known for:

Seven schools of macroeconomic thought (1990)
Inflation Policy and Unemployment Theory (1972)

Edmund Phelps on Wikipedia

Suggest an edit or a new quote

American Economist Quotes

Economist Quotes

20th-century Economist Quotes