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Lives of the LaureatesTwenty-three Nobel Economists$
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Roger W. Spencer and David A. Macpherson

Print publication date: 2014

Print ISBN-13: 9780262027960

Published to MIT Press Scholarship Online: May 2015

DOI: 10.7551/mitpress/9780262027960.001.0001

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Edmund S. Phelps

Edmund S. Phelps

(p.335) Edmund S. Phelps
Lives of the Laureates

Roger W. Spencer

David A. Macpherson

The MIT Press

This chapter examines the life of Edmund S. Phelps, another Nobel Prize awardee. Phelps was born in 1933 and received his Ph.D. f Yale in 1959. He was appointed professor of economics at the University of Pennsylvania in 1966 and served as a director at Columbia University until 2001. The chapter looks at his struggle to depart from the scientism and determinism of the neo-Keynesian school. He was labeled a radical. His Microeconomic Foundations, published in 1970, pointed to the arrival of micro-macro movement in economics. His publications include Inflation Policy and Unemployment Theory and Political Economy: An Introductory Text.

Keywords:   Edmund S. Phelps, neo-Keynesian school, Microeconomic Foundations, micro-macro economics

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