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Edmund Phelps is an American economist known for his influential work on the relationship between inflation, unemployment, and economic expectations. His research has significantly shaped how policymakers and economists understand and approach key economic challenges.
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Edmund Strother Phelps (July 26, 1933 – May 15, 2026) was an American economist and the recipient of the 2006 Nobel Memorial Prize in Economic Sciences.
Early in his career, he became known for his research at Yale's Cowles Foundation in the first half of the 1960s on the sources of economic growth. His demonstration of the golden rule savings rate, a concept related to work by John von Neumann, started a wave of research on how much a nation should spend on present consumption rather than save and invest for future generations.
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1933 births20th-century American economists20th-century American writers21st-century American economists21st-century American non-fiction writersAmerican macroeconomistsAmerican Nobel laureatesAmherst College alumniColumbia University facultyDistinguished fellows of the American Economic AssociationEconomists from IllinoisEconomists from New York (state)