person
Edmund Phelps
American economist (b. 1933). Independently developed the natural-rate hypothesis ahead of Friedman's 1968 AEA address; later contributions to growth theory, structuralism, and the political economy of dynamism. Nobel laureate 2006.
Stub.
Edmund Phelps’s 1967 papers on expectations-augmented Phillips curves preceded Friedman’s 1968 AEA address and developed the natural-rate hypothesis on a microfounded search-theoretic basis. Long career at Columbia; Nobel Memorial Prize 2006 for his work on intertemporal trade-offs in macroeconomic policy. Later work emphasises grass-roots innovation, “mass flourishing,” and the cultural-institutional preconditions of dynamic economies.