Edmund Phelps is among the most important economists of his generation. He developed a new understanding of unemployment and inflation and went on to rethink the roots of innovation. His work represents a lifelong project to put “people as we know them” into economic theory.
In this book, Phelps tells the story of his role in reshaping economic theory, offering a powerful personal account of a creative and rewarding career. My Journeys in Economic Theory charts two major phases of Phelps’s work, illuminating the breadth of his contributions to the field. First, introducing the expectations of wage setters and cofounding the “equilibrium” rate of unemployment, he built the microeconomic foundations for the employment theory pioneered by Keynes and Hicks. More recently, he conceived a theory of “mass flourishing” superseding Schumpeter and Solow’s conception of the process of innovating—a theory in which individuals’ creativity and society’s dynamism fuel grassroots innovation and generate job satisfaction in the process.
Phelps recounts his vivid experiences in the world of economics—fierce arguments, competition and collaboration, and the good fortune of time spent among some great figures—as well as his relationships with luminaries such as John Rawls, Thomas Nagel, Paul Samuelson, and Paul Volcker. At its core, this book shares the joy of intellectual achievement: the excitement of coming up with a new idea that radically departs from prevailing views and the satisfaction of exercising one’s own ingenuity instead of applying or developing others’ models. Telling the story of a life packed with intellectual adventure, My Journeys in Economic Theory provides a profound vision of a dynamic, modern economy that offers lives rich with creativity and meaning.
"A Best Book in Economics for 2023." - Financial Times
"Elegant." - Wall Street Journal
"This is a compelling and timely argument. That Ned Phelps is still making it forcefully...is reason enough to recommend the book." - 3 Quarks Daily
"This is a book that merits perseverance and hard work." - Irish Times
"I am definitely more wiser on economic theories and more inspired after reading about the life of Edmund Phelps." - Conscientious Reflections
"Will intrigue anyone with an interest in the interdisciplinary nature of social science." - Financial Times
"Enchanting...he is thinking new things and also important and uplifting things." - Financial Times
"As we look ahead to a century dominated by artificial intelligence and the challenges of automation, the questions that Phelps is studying—about how to provide meaningful work so that society can flourish—continue to be of vital importance." - Amherst Magazine
"I would recommend Phelps’s book to anyone who is interested in the evolution of economic theories....students of philosophy, political sciences or history may also find benefit and pleasure in reading the book." - Central Banking
"A great read." - The Hub
"A recollection of candour, cause, and consequence." - Blogternator
"Engagingly written." - Business Economics
Формат: Скан PDf
In this book, Phelps tells the story of his role in reshaping economic theory, offering a powerful personal account of a creative and rewarding career. My Journeys in Economic Theory charts two major phases of Phelps’s work, illuminating the breadth of his contributions to the field. First, introducing the expectations of wage setters and cofounding the “equilibrium” rate of unemployment, he built the microeconomic foundations for the employment theory pioneered by Keynes and Hicks. More recently, he conceived a theory of “mass flourishing” superseding Schumpeter and Solow’s conception of the process of innovating—a theory in which individuals’ creativity and society’s dynamism fuel grassroots innovation and generate job satisfaction in the process.
Phelps recounts his vivid experiences in the world of economics—fierce arguments, competition and collaboration, and the good fortune of time spent among some great figures—as well as his relationships with luminaries such as John Rawls, Thomas Nagel, Paul Samuelson, and Paul Volcker. At its core, this book shares the joy of intellectual achievement: the excitement of coming up with a new idea that radically departs from prevailing views and the satisfaction of exercising one’s own ingenuity instead of applying or developing others’ models. Telling the story of a life packed with intellectual adventure, My Journeys in Economic Theory provides a profound vision of a dynamic, modern economy that offers lives rich with creativity and meaning.
"A Best Book in Economics for 2023." - Financial Times
"Elegant." - Wall Street Journal
"This is a compelling and timely argument. That Ned Phelps is still making it forcefully...is reason enough to recommend the book." - 3 Quarks Daily
"This is a book that merits perseverance and hard work." - Irish Times
"I am definitely more wiser on economic theories and more inspired after reading about the life of Edmund Phelps." - Conscientious Reflections
"Will intrigue anyone with an interest in the interdisciplinary nature of social science." - Financial Times
"Enchanting...he is thinking new things and also important and uplifting things." - Financial Times
"As we look ahead to a century dominated by artificial intelligence and the challenges of automation, the questions that Phelps is studying—about how to provide meaningful work so that society can flourish—continue to be of vital importance." - Amherst Magazine
"I would recommend Phelps’s book to anyone who is interested in the evolution of economic theories....students of philosophy, political sciences or history may also find benefit and pleasure in reading the book." - Central Banking
"A great read." - The Hub
"A recollection of candour, cause, and consequence." - Blogternator
"Engagingly written." - Business Economics
Формат: Скан PDf
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