Edmund Phelps

I've lived to see key parts of my research absorbed in textbooks and in central banks around the world. And some finance ministries, too.

— Edmund Phelps

Chancellor Angela Merkel and Wolfgang Schaeuble, her finance minister, are right to oppose fiscal and bank unions without political union.

— Edmund Phelps

I've lived to see key parts of my research absorbed in textbooks and in central banks around the world. And some finance ministries, too.

— Edmund Phelps

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