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Edmund Phelps

1933–2026

Edmund Phelps (1933–2026) was an American economist and Nobel laureate, best known for his work on the microfoundations of employment and inflation, particularly the natural rate of unemployment and the role of expectations. He challenged Keynesian orthodoxy and later focused on innovation, dynamism, and the cultural roots of economic prosperity. His career spanned Columbia University, where he directed the Center on Capitalism and Society.

Economics

Microeconomic Foundations of Employment and Inflation Theory (1970)
Inflation Policy and Unemployment Theory (1972)
Political Economy: An Introductory Text (1985)
Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets (1994)
Rewarding Work: How to Restore Participation and Self-Support to Free Enterprise (1997)
Designing Inclusion (2003)
Entrepreneurial Culture (2009)
Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change (2013)
Dynamism: The Values That Made America Great (2020)
My Life and Work (2024)

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