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	My Way News - Phelps 6th American to Win Nobel in 2006
		Phelps is the sixth American to win a Nobel this year, meaning that every prize except for the literature and peace awards, which are yet to be announced, have gone to Americans.
		Phelps also showed there is a precise "equilibrium unemployment rate" at which firms raise workers' wages at the same rate as average wages are expected to rise in the economy overall.
		Phelps also pioneered the analysis of the importance of human capital, or workers themselves, for the diffusion of new technology and growth in the business and corporate world, the academy said in its citation.
	apnews.myway.com /article/20061009/D8KL7O8G3.html (1046 words)

	Edmund G. Phelps, Seminal Figure in Modern Economics, Wins Nobel Prize -- The Earth Institute at Columbia University (Site not responding. Last check: 2007-10-17)
		Phelps was recognized early in his career for his new ideas on economic growth produced at Yale's Cowles Foundation in the early 1960s and for his pioneering research on inflation, unemployment and business fluctuations conducted at the University of Pennsylvania in the late 1960s and at Columbia in the 1970s.
		Phelps' current work is about the benefits and sources of a country's structural dynamism — the enterprise and creativity of entrepreneurs, the skill of financiers in selecting and supporting the best projects, and the knowledge managers draw upon in evaluating and making use of new methods and products.
		Phelps was elected to membership in the National Academy of Sciences in 1981 at age 47.
	www.earthinstitute.columbia.edu /news/2006/story10-09-06.php (764 words)

	Edmund Phelps - Wikipedia, the free encyclopedia
		Edmund Strother Phelps (born July 26, 1933 in Evanston, Illinois) is an American professor of economics at Columbia University, who was awarded the 2006 The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, commonly known as the Nobel Prize in Economics.
		Phelps spent the year 1969-1970 at the Center for Advanced Study in Behavioral Science at Stanford University.
		Phelps and the Nobel Prize by Arnold Kling.
	en.wikipedia.org /wiki/Edmund_Phelps (1733 words)

	USATODAY.com - Columbia University's Phelps gets Nobel in economics (Site not responding. Last check: 2007-10-17)
		During the 1960s, Phelps built on what is known as the Phillips Curve, which held that when unemployment fell, there was a one-time rise in the rate of inflation.
		Phelps also looked at economic trade-offs, showing that deferring consumption in the short run to fund research, education and other business investment can improve economic conditions in the longer run.
		Phelps' efforts have had a major impact on the way central banks operate, including a move by many to try to affect inflation expectations by setting an inflation target, or allowable range of inflation, and calibrating policy to meet that goal.
	www.usatoday.com /money/world/2006-10-09-nobel-economics_x.htm?csp=34 (466 words)

	BakuTODAY.net - US economist Edmund Phelps wins Nobel Economics Prize (Site not responding. Last check: 2007-10-17)
		Phelps' work is at the centre of a vast debate on structural reforms, as industrialized countries attempt to restructure their economies to bring down unemployment and control inflation, while also containing deficits and debt, amid a need to fund future pension and health-care systems.
		Phelps formulated a model known as the "expectations-augmented Phillips curve", which says that for a given unemployment rate, a one percentage point increase in expected inflation leads to a one percentage point increase in actual inflation.
		Phelps analysis stood in contrast to the earlier views on the ability of an expansionary fiscal and monetary policy permanently to increase employment.
	www.bakutoday.net /view.php?d=27705 (773 words)

	Edmund Phelps Home Page
		Phelps spent much of the ‘70s replying to a further development from other quarters: to theoretical demonstrations that a departure from the current equilibrium path would be merely momentary if every economic actor had so-called rational expectations.
		In response, Phelps began in the late ‘80s to develop a theory of the equilibrium path itself – a theory of the determinants of the natural unemployment rate.
		Phelps was elected to the National Academy of Sciences (USA) in 1981 and was made a Distinguished Fellow of the American Economic Association in 2000.
	www.columbia.edu /~esp2 (1687 words)

	Edmund Phelps wins Economics Nobel
		Phelps, 73, professor of political economy at Columbia University in New York, was credited "for his analysis of intertemporal tradeoffs in macroeconomic policy," the academy said, citing his research into the relationship between short-term and long-term effects of economic policy.
		Phelps was the sixth US national this year to win a Nobel prize.
		Edmund Phelps joined the Department of Economics at Columbia in 1971 after several years at Pennsylvania and earlier Yale.
	specials.rediff.com /money/2006/oct/09nobel1.htm (370 words)

	NYC economics professor Edmund S. Phelps wins Nobel prize (Site not responding. Last check: 2007-10-17)
		Edmund S. Phelps, 73, was cited Monday for research into the relationship between inflation and unemployment, giving governments better tools to formulate economic policy.
		Phelps told reporters in his New York apartment that he learned of the prize in a phone call from Sweden that woke him early in the morning.
		Phelps argued that this view didn't take workers' or companies' decision-making into account, and his research showed that their expectations about both unemployment and inflation affected their actions.
	www.topix.net /content/ap/3654781797278672795619772699673022597686 (1164 words)

	Rewarding Work by Edmund S. Phelps
		For Edmund Phelps, this is a failure of political economy whose ill effects have spread widely and are undermining the free-enterprise system itself.
		Edmund Phelps has proposed a radical scheme to subsidize low-wage labour in the United States...[Workers'] pay and employment prospects would be transformed...
		In this important book Edmund Phelps argues that the breakdown of basic societal norms is a consequence rather than a cause of economic disadvantage.
	www.webcaz.com /webreward/about.html (450 words)

	Business Report - Theories that shook the Fed win Edmund Phelps the Nobel
		Washington - Edmund Phelps, a professor at Columbia University in New York, yesterday won the Nobel prize in economic sciences for his theories on the interplay between inflation expectations and unemployment.
		Phelps has written frequently on the notion that "dynamism", the creation and development of new ideas, was the key to fostering growth over the long run.
		Professor at Columbia University in New York, Edmund Phelps, won the Nobel prize in economic sciences for theories that challenge views on the interplay between inflation and unemployment.
	www.busrep.co.za /index.php?fArticleId=3478437 (834 words)

	Edmund S. Phelps (Site not responding. Last check: 2007-10-17)
		Edmund Phelps was born in 1933 in Chicago and grew up in Hastings-on-Hudson, N.Y. He received his B.A. at Amherst College in 1955 and his Ph.D. at Yale in 1959.
		Phelps is the director of Columbia’s Center on Capitalism and Society, formed in 2001.
		Phelps was elected to the National Academy of Sciences (USA) in 1982at age 48.
	www.oecd.org /document/23/0,2340,fr_2649_34487_35426327_1_1_1_1,00.html (622 words)

	Harvard University Press: Rewarding Work : How to Restore Participation and Self-Support to Free Enterprise by Edmund ...
		Phelps and Milton Friedman, working independently, were the first to postulate the idea of a natural rate of unemployment.
		Phelps, an economist at Columbia University, argues against the idea that low-wage workers are unproductive and unreliable because of their culture or their lack of bourgeois morals.
		Edmund Phelps has proposed a radical scheme to subsidize low-wage labour in the United States [Workers'] pay and employment prospects would be transformed...The modern welfare state is working very badly, and Mr.
	www.hup.harvard.edu /catalog/PHEREW.html?show=reviews (843 words)

	Edmund S. Phelps, Nobel Prize winner, got it wrong on stagflation
		In the late 1960s Edmund Phelps and Milton Friedman (PF) challenged the popular view that there can be a sustainable trade-off between inflation and unemployment.
		This year Nobel Prize in economics was awarded to Edmund Phelps for his work on the relationship between inflation and unemployment.
		Phelps could have made great contribution to economic profession by dismissing the entire framework of the supposed trade-off between inflation and unemployment (the Phillips Curve).
	www.brookesnews.com /061610phelps.html (3131 words)

	New York Daily News - City News - Honey, Nobel's calling (Site not responding. Last check: 2007-10-17)
		Edmund (Ned) Phelps shares a laugh with his wife, Viviana, after winning the Nobel Prize yesterday.
		Phelps was born in Chicago during the Great Depression.
		Phelps joined Columbia's economics department in 1971 after stints at the University of Pennsylvania and Yale.
	www.nydailynews.com /news/local/story/460186p-387167c.html (462 words)

	Edmund Phelps takes economics Nobel - Middle East Business news related to travel, food, hotel, real estate, health, ... (Site not responding. Last check: 2007-10-17)
		American Edmund Phelps took the 2006 economics Nobel for work on the relationship between unemployment and inflation.
		In his research, Phelps suggested that inflation was not a cause of unemployment but argued that there was a base level of unemployment which helped keep prices steady.
		Phelps said that he had no immediate plans for his prize money but would probably invest it.
	www.tradearabia.com /tanews/newsdetails_snINTNEWS_article112646.html (455 words)

	Knowledge Problem: Edmund Phelps, Nobel Laureate (Site not responding. Last check: 2007-10-17)
		Edmund Phelps has won this year's Bank of Sweden Nobel Memorial Prize in Economics.
		But Phelps is not an economist who has influenced my own thinking much if at all.
		For my money, the value of his work is in dialing down the hubris of the government policymaker who thought that monetary and fiscal policy were dials that they could twiddle to control and manage the economy.
	www.knowledgeproblem.com /archives/001782.html (303 words)

	PrestoPundit » Blog Archive » Edmund Phelps has Won the Nobel Prize in Economics
		Phelps formulated the hypothesis of the expectations-augmented Phillips curve, according to which inflation depends on both unemployment and inflation expectations.
		Phelps showed how the possibilities of stabilization policy in the future depend on today’s policy decisions: low inflation today leads to expectations of low inflation also in the future, thereby facilitating future policy making.
		Phelps also pioneered the analysis of the importance of human capital for the diffusion of new technology and, hence, for growth.
	gregransom.com /prestopundit/?p=1293 (421 words)

	NEWSLINK, Vol. 2, No. 1, Summer 1997: BookMark Edmund S. Phelps' "Rewarding Work" reviewed (Site not responding. Last check: 2007-10-17)
		Phelps' solution consists of an employer subsidy program that would keep the labor costs of low wages to a minimum and thereby more attractive.
		Phelps is convinced that his medicine is worth the cost of approximately $125 billion.
		Phelps thinks those who place equality before everything else fail to distinguish the contributions of those individuals who create wealth in a free-market society.
	www.beaconhill.org /NewsLink/NLV21/v2n1bookm.html (909 words)

	Beat the Press
		The great innovation that Phelps, along with Milton Friedman, brought to the theory of the natural rate of unemployment is that workers would develop expectations of inflation, so that they could not be systematically fooled about the true value of the real wage.
		Phelps’ contribution was to make the reasonable point, that if workers are motivated by the real wage, then they will be smart enough to figure out the impact of inflation on the value of the real wage.
		The advantage of moderate inflation in his view is that it allows for adjustments in real wages without workers having to accept nominal pay cuts, which would clearly lower their wages relative to other workers.
	www.prospect.org /deanbaker/2006/10/edmund_phelps_and_the_natural.html (1461 words)

	Marginal Revolution: Edmund Phelps -- Today's Nobel Prize in economics
		Phelps believes that considerations of justice and distribution are important, and neglected, in economic thinking.
		Phelps also generated the counterintuitive result that the savings rate can be too high, and that all generations could be better off with a lower savings rate.
		Phelps also wrote a 1972 paper on statistical discrimination, one of the earliest formal economic treatments of that topic.
	www.marginalrevolution.com /marginalrevolution/2006/10/nobel.html (2717 words)

	BREAKING: U.S. economist Edmund Phelps takes Nobel Prize in Economics! (Site not responding. Last check: 2007-10-17)
		Phelps, 73, will receive the prize, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, and the $1.4 million prize that goes with it Dec. 10 in ceremonies in Sweden.
		Phelps is a figure of the old regime, before we knew monetary theory, before we understood how markets really work, and before we figured out public finance.
		Friedman and Phelps presented their views in the late 60s, and they were on the very same page regarding this economic theory.
	www.freerepublic.com /focus/f-news/1716159/posts (3777 words)

	The Austrian Economists: Nobel for Edmund Phelps
		The 2006 Nobel Prize in economics was awarded to Edmund Phelps of Columbia University.
		Phelps and Frydman had resisted the Lucas revolution of a strict interpretation of rational expectations, and offered instead a notion of "theory consistent expectations" and the dymanic market process—as opposed to equilibrium economics.
		But as the countries of East and Central Europe started to undergo their fundamental reforms in the late 1980s, Phelps and Frydman turned their attention to that question—especially Roman Frydman who led a major research project documenting the various privatization programs that arose in the different countries.
	austrianeconomists.typepad.com /weblog/2006/10/nobel_for_edmun.html (660 words)

	book review article
		Edmund Phelps argues for a large wage subsidy—over $100 billion—to help low income workers.
		Phelps argues that wage subsidies improve the incentives on lower-income individuals.
		I do not think it will pay for itself and it might not lower “official” unemployment because monetary policies primarily control the unemployment rate, though it probably will increase the total size of the work force and reduce unemployment that way.
	goodtrue.tripod.com /phelps.htm (1328 words)

	Harvard University Press: Structural Slumps : The Modern Equilibrium Theory of Unemployment, Interest, and Assets by ...
		Few economists write as lucidly as Mr Phelps; among those toiling at the theoretical frontier of the subject, he is peerless in this respect.
		Edmund Phelps's book is a substantial contribution to the analysis of swings in unemployment from one cycle to the next...[It offers] a wealth of insights into the nature of unemployment.
		For more than twenty years, Edmund Phelps has been making major contributions, from the workings of the natural rate to the implications of customer markets and of efficiency wages.
	www.hup.harvard.edu /catalog/PHESTR.html?show=reviews (520 words)

	NDE-news: October 2 - 8, 2006
		Columbia University’s Edmund Phelps has been in the news this month as the winner of the 2006 Nobel Prize for Economics.
		Phelps is best known for his work explaining the linkages between inflation and unemployment, but he can also be quite eloquent on the topic of entrepreneurship.
		In a recent op-ed for The Wall Street Journal, Phelps presents a compelling case for the power of entrepreneurs to foster innovation and to build economic prosperity.
	www.publicforuminstitute.org /nde/news/2006/enews-06-10-16.htm (1103 words)

	Phelps - Wikipedia, the free encyclopedia
		Phelps is a surname, and may refer to
		Anson G. Phelps, the son of a New York businessman and philanthropist
		Fred Phelps, the vocally anti-gay "pastor" of Topeka's Westboro Baptist Church
	en.wikipedia.org /wiki/Phelps (160 words)

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