Edmund Phelps’s Journey

The winner of this year’s Nobel prize for economics, Edmund Phelps, is a giant in the field. His contributions have been, and remain, so important as that they have altered traditional ways of thinking. According to the social science citations index, he ranks well among the most important economists since Adam Smith. Economists working on the macro economy, its micro foundations, exogenous and endogenous growth theory, the formation of expectations and problems of information and discrimination all refer back to Phelps.