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Edmund Phelps Quotes

1933–2026 United States

Edmund Strother Phelps, Jr. (July 26, 1933 – May 15, 2026) was an American economist, and McVickar Professor of Political Economy at Columbia University since 1982. He was also the director of Columbia's Center on Capitalism and Society.

United States
Academics
Economists
Nobel laureates

Also known as: Edmund S. Phelps

Random Edmund Phelps quote

2 quotes

When public spending in the form of transfer payments makes various services and benefits free of charge, work is discouraged. Yet it is precisely Social Security that legislators fear to cut

The stampede toward “rational expectations” — widely thought to be a “revolution,” though it was only a generalization of the neoclassical idea of equilibrium—derailed the expectations-driven model building that had just left the station. In the end, this way of modeling has not illuminated how the world economy works.

Edmund S. Phelps (2007)

Attribution

Quotes and notes from Wikiquote: Edmund Phelps (page history), available under CC BY-SA 4.0.