Edmund Phelps

Edmund Phelps is an American economist known for his contributions to macroeconomics, particularly regarding the relationship between inflation and unemployment, a theory known as the Phillips Curve. He was awarded the Nobel Prize in Economic Sciences in 2006 for his work on how expectations shape economic decision-making. Phelps emphasized the importance of innovation and policy in driving sustainable economic growth. His ideas explore how economic systems can achieve a balance between growth and stability, making his research relevant to understanding modern economies and their challenges.