Edmund Phelps is the winner of the 2006 Nobel Prize in Economics
and Director of the Center on Capitalism and Society at Columbia University.
BIOGRAPHY
Edmund Phelps, recipient of the 2006 Nobel Prize in Economics, is McVickar Professor Emeritus of Political Economy and Director of the Center on Capitalism and Society at Columbia University. Born in 1933, he spent his childhood in Chicago and, from age six, grew up in Hastings-on Hudson, N.Y. He attended public schools, earned his B.A. from Amherst (1955) and got his Ph.D. at Yale (1959). After a stint at RAND (1959-60), he held positions at Yale and its Cowles Foundation (1960-66), a professorship at Penn (1966-71) and finally Columbia (1971- 2021). He became Director of the newborn Center on Capitalism and Society in 2001. He has written books on public debt, inflation, unemployment theory, slumps, rewarding work, indigenous innovation, the good life and dynamism. He also has written texts on economic justice, political economy and schools of macroeconomic thought.
His work can be seen as a lifelong project to put “people as we know them” into economic theory.
In the mid-‘60s to the early ‘80s, beginning with the “Phelps volume,” Microeconomic Foundations of Employment and Inflation Theory (1970), he pointed out that workers, customers and companies must make many decisions without full or current information; and they improvise by forming expectations to fill in for the missing information. In that framework, he studied wage-setting, mark-up rules, slow recoveries and over-shooting. This served to underpin the Keynesian tenet that, say, a cut in the money supply will not merely cause prices and wages to drop with no prolonged effect on employment.
From the mid-‘80s to the late ‘90s, he put aside the short-termism and monetary models of Chicago, Harvard and MIT to develop a “structuralist” macroeconomics. Contrary to what Keynesian extremists see as unending and unexplained deficiency of “demand,” he sees employment heading to its “natural” level and seeks to explain the effects of structural forces on it. His book Structural Slumps (1994) with Hian Teck Hoon and Gylfi Zoega and later papers of theirs find an economy’s natural employment level is contracted by increases in household wealth, in overseas interest rates, by currency weakness and other structural forces. Thus, the declines of labor force participation -- among males, at any rate -- in the US, UK and France result from the pile-up of wealth and decline of capital per unit of output, both stemming from the secular slowdown in the growth of (total factor) productivity.
From the mid-‘80s to the late ‘90s, he put aside the short-termism and monetary models of Chicago, Harvard and MIT to develop a “structuralist” macroeconomics. Contrary to what Keynesian extremists see as unending and unexplained deficiency of “demand,” he sees employment heading to its “natural” level and seeks to explain the effects of structural forces on it. His book Structural Slumps (1994) with Hian Teck Hoon and Gylfi Zoega and later papers of theirs find an economy’s natural employment level is contracted by increases in household wealth, in overseas interest rates, by currency weakness and other structural forces. Thus, the declines of labor force participation -- among males, at any rate -- in the US, UK and France result from the pile-up of wealth and decline of capital per unit of output, both stemming from the secular slowdown in the growth of (total factor) productivity.
Now, from around 2000 to 2020, he has worked to put economics on a new foundation. Powerful innovation over more than a century has altered the nature of the advanced economies: Having high income or wealth matters less than it did. As his book Rewarding Work (1997) begins to argue, what matters more are non-material rewards of work: being engaged in projects, the delight of succeeding at something and the experience of flourishing on an unfolding voyage. His book Mass Flourishing (2013) remarks that cavemen had the ability to imagine new things and the zeal to create them. But a culture liberating and inspiring dynamism is necessary to ignite what Lincoln called a “passion for the new.” These thesis on the central role of values for indigenous innovation and indeed the good life have been put to the test in the new book Dynamism (2020). [Read More]
Pre-Order My Journeys in Economic Theory here.
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 co-founding 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 understanding of growth—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 offers a profound vision of a dynamic, modern economy that delivers lives rich with creativity and meaning.
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 offers a profound vision of a dynamic, modern economy that delivers lives rich with creativity and meaning.
January 20, 2023
CGTN interviews Edmund Phelps on the importance of work. Watch here along with the longer broadcast.
December 7, 2022
Edmund Phelps spoke at Sciences Po's event in honor of Jean-Paul Fitoussi. Watch a recording of the speech here.
December 2, 2022
« Qu’est-ce qu’une “bonne” économie ? » Edmund Phelps writes on the good economy for Le Monde.December 1, 2022
What makes a dynamic economy? Edmund Phelps speaks to Edward Brown on "The Demand Side" podcast. Listen here.
October 16, 2022
Steve Denning discusses Phelps's Mass Flourishing and Dynamism in his article "Why Capitalism Is in Crisis: How Corporations Lost Their Dynamism," published in Forbes.
September 30, 2022
“A persisting Injustice in America’s Economy,” Speech, Present Failings and Ways Forward: Private Sector and Public Sector, 19th Annual Conference of the Center on Capitalism and Society, Columbia University, New York, . Watch footage from the conference including this speech here.
September 1,2022
“Policy Errors and Omissions: A Broad View,” Speech, Fault
Lines after Covid, Institute of International Affairs, University of Iceland,
Reykjavik, Iceland
August 26, 2022
At the Lindau Nobel Laureate Meetings, Edmund Phelps delivered the speech "The New Theory of Innovation: Mass Flourishing and Dynamism." Read about the event (in German) here and here.
August 24, 2022
Edmund Phelps speaks on productivity growth on CNBC'S "Squawk Box Europe." Read and watch the interview here.
August 2, 2022
Over 126 economists, including Edmund Phelps, sign a letter to Congress in support of the Inflation Reduction Act of 2022. Read the letter here.
June 28, 2022
Edmund Phelps delivers a virtual speech titled “Decline of Values Weakens the
World Economy" as part of the ESG Global Leaders Summit hosted by Sina Finance. Watch the speech here.
June 17, 2022
The Center on Capitalism and Society publishes Volume 16, Issue 1 of their journal Capitalism & Society. This issues includes Phelps's paper "Tensions and Demands in Society, Economic Justice and Progressivism, and Yet Another Way Forward."
June 2, 2022
Edmund Phelps delivered a keynote address at the Trento Festival of Economics in Trento, Italy, on Saturday, June 4, entitled "Innovation that Comes from Below, Not from Above." The full keynote is viewable here (free registration required). His interview with Il Sole 24 Ore TV is available here. Additional coverage is available here: Il Sole 24 Ore (first piece), Il Sole 24 Ore (second piece), Corriere, Yahoo/newswire. Edmund Phelps's remembrance was included in a special tribute to Jean Paul Fitoussi at the festival. A piece about the tribute is available here.
May 30, 2022
On the occasion of the inauguration of the new San Raffaele Business School, Edmund Phelps delivered a speech at the university in Rome. His interview with Il Tempo following the event is available here.
May 18, 2022
Horizonte Cubano, affiliated with Columbia Law School, publishes Phelps's piece "Right Values and Wrong Ones for an Economy of Dynamism" in English and Spanish.
May 14, 2022
Jeff Sommers interviews Phelps as a source for his piece "How Do Higher Interest Rates Bring Down Inflation" published in the New York Times.
March 3, 2022
Phelps, among 201 other Nobel Laureates, signed a letter in support of Ukraine.
February 14, 2022
Mark Mills hypothesizes that the world will soon enter a new era of mass flourishing in piece adapted from his book The Cloud Revolution appearing in Big Think.
January 25, 2022
Edmund Phelps is interviewed about inflation by Vonnie Quinn on Bloomberg Radio. Read a transcript of the interview here.
January 5, 2022
Ryan Streeter publishes "Dynamism as a Public Philosophy," a piece heavily influence by Phelps's Dynamism theory, in the winter issue of National Affairs.
December 31, 2021
Upon retiring from teaching Phelps's title changes to McVickar Professor Emeritus of Political Economy. He will remain Director of the Center on Capitalism and Society at Columbia University.
December 13, 2021
Phelps participates in the 5th annual China and the West: The Role of the State in Economic Growth (held virtually this year), a collaborative event co-hosted by Columbia University, Tsinghua University and Peking University.
December 2, 2021
Phelps delivers a speech “Dynamism: Why and How” by video participation to the 14th Gold Kirin Forum cohosted by CITIC Press and Sina Finance.
November 5, 2021
Edmund Phelps delivers that lecture “My Battles Over Economic Theory” to Tsinghua University Students. This is his third "Top Talk" hosted by the Tsinghua University Graduate Union.
November 5, 2021
The Center on Capitalism and Society holds its 20th Anniversary Conference: Economic Policy and Economic Theory for the Future at Columbia University's Faculty House. Edmund Phelps delivers the remarks on “Tensions and Demands in Society, Economic Justice and
Progressivism, And Yet Another Way Forward." Read an article by Michael Liss about the conference in 3 Quarks Daily.
October 5, 2021
The volume Consensus or Conflict: China and Globalization in the 21st Century edited by Huiyao Wang and Alistar Michie is published by Springer featuring the chapter “Achieving Economic Dynamism in China” by Edmund Phelps.
September 28, 2021
Project Syndicate publishes "Recovery Prosperity" and opinion piece co-authored by Edmund Phelps and Columbia University graduate student Mohammad Salhut.
September 25, 2021
Krishna Gupta writes about Phelps's life and work in "Explorer of New Vistas," published by the Millennium Post.
September 19, 2021
Steve Denning references Phelps's Mass Flourishing in his article "Why We Live in a Golden Age of Innovation" published in Forbes.
September 17, 2021
Phelps delivers a speech on innovation at the 5th International Rendanheyi Model Forum hosted by the Haier Group in Qiangdo, China. Read about the event on Yahoo! and Business Wire. A revised version of the speech can be read on the website of the Center on Capitalism and Society.
August 30, 2021
Phelps delivers a speech on job satisfaction, societal values, and economic inclusion at South-Southwest Week: Investing and Connecting, a conference hosted by the Mexican Ministry of Economy in Mexico City.
July 30, 2021
In celebration of the Chinese translation of Dynamism, CITIC Press hosts a discussion between Edmund Phelps, Professor Justin Lin of Peking University and Professor Xue of Tsinghua University. See coverage of the event here.
June 12, 2021
Phelps speaks on innovation and growth policy at the festschrift conference "The Economics of Creative Destruction" in honor of Philippe Aghion and Peter Howitt, College de France, Paris. Watch here. (5:08:43)
May 20, 2021
Phelps delivers the presentation "The Need for a Global Patent Market and the Desirability of Open Innovation" virtually at the 5th World Intelligence Congress in Tianjin.
May 4, 2021
Edmund Phelps speaks to Project Syndicate on a wide variety of topics including the unemployment paradox, Biden's American jobs plan, Dynamism, the value of individualism, universal basic income and more.
April 19, 2021
"How will the global economy be reshaped in a post pandemic era?" : Edmund Phelps speaks to CGTN.
March 27, 2021
Edmund Phelps is interviewed on CGTN along with David Daokui Li on relations between China and the US. Watch here.
March 20, 2021
The China Development Forum was held in Beijing. Edmund Phelps speaks on "China's Impacts on the Stagnant West" during a panel on prosperity for all.
February 10, 2021
"Economic Dynamism and the Global Economy" by Edmund Phelps is published as a white paper with the Asia Times. The paper is available to read in English and Chinese. Phelps also presented the paper through a webinar hosted by the Asia Times
December 28, 2020
Two recent articles discuss the influence of Phelps's ideas on innovation in China:"China to support mass entrepreneurship, innovation" by Nadeem Xu in Asia Times and "Creating a flourishing, dynamic and entrepreneurial economy" by David Blair in China Daily.
November 28, 2020
Dr. Shirley Yu and Martina Fuchs interview Edmund Phelps for Hey! China: Some Immortal Wisdom on Economics, Innovation and China. Watch in Chinese here.
Edmund Phelps discusses dynamism, mass flourishing, corporatism, President-elect Biden among other things with Juan Vicente Sola for the 10th Phelps Congress, hosted by El Clarin. View here (in Spanish). Read the transcript in English here.
Edmund Phelps was interviewed by Caroline Harting for Columbia News, "A Nobel Laureate on Individualism and Prosperity."
November 13, 2020
For the China Development Forum 2020, Edmund Phelps delivered a short speech, "Global Supply Chains after the Pandemic."
November 4, 2020
Edmund Phelps is interviewed by Grace Gu for the Global Enterprise Innovation International Summit hosted by the Shanghai Media Group, "China and the US will not decouple on a large scale."
September 25, 2020
September 24, 2020
Edmund Phelps appears on Bloomberg Surveillance, "Nobel Laureate Phelps: Incompetent People Run U.S. Government."
September 21, 2020
Edmund Phelps publishes "The Economic Case for Biden" in Project Syndicate.
August 30, 2020
Martin Sanbu reviews Dynamism in the Financial Times: "Dynamism by Edmund Phelps."
August 28, 2020
Edmund Phelps's latest op-ed "Poverty as Injustice" is published in Project Syndicate.
August 7, 2020
Edmund Phelps is interviewed by Tom Keene and Francine Lacqua on Bloomberg Surveillance (start at 1:55:45).
August 6, 2020
Edmund Phelps publishes the op-ed "The Robot Question," in Project Syndicate.
July 17, 2020
Edmund Phelps and Juan Vincente Sola publish the op-ed "What's the Matter with South America," in Project Syndicate.
June 26, 2020
Edmund Phelps participates online in the Institute for Global Economics Conference held in Seoul. Read about the conference in the Korea Times here.
June 23, 2020
Edmund Phelps delivers speech online at the 4th World Intelligence Congress sponsored by Peking University and others. Read about the event here.
June 12, 2020
Dawei Li interviews Edmund Phelps for Guangming Daily, "Nobel Prize winner in economics: China will benefit from innovation in post-epidemic era". Interview is in Chinese.
Dawei Li interviews Edmund Phelps for Guangming Daily, "Nobel Prize winner in economics: China will benefit from innovation in post-epidemic era". Interview is in Chinese.
Jorge Fontevecchia of Perfil interviews Edmund Phelps, "Edmund Phelps:It's important to get a debt agreement that is feasible for Argentina." The interview can also be found in Spanish here.
June 6, 2020
Edmund Phelps adds his name to the signatories of the column, "Toward a cultural renaissance of the economy," published in Le Monde, El Pais, and Corriere Della Sera, and designboom.
May 22, 2020
Sandra Navidi interviews Edmund Phelps for NTV, "Inventiveness with Nobel Prize winner Phelps."May 19, 2020
Alejandro Bercovith interviews Edmund Phelps on Argentina's C5N news channel. View the interview here.May 14, 2020
Emiliano Bos interviews Edmund Phelps for Radio Televisione Svizzera, the Italian branch of Swiss Public Radio. Phelps says that in America the coronavirus crisis is aggravated by a lack of entrepreneurial spirit, "Il Nobel: debito USA troppo alto."
May 8, 2020
On the occasion of Harvard's publication this week of Dynamism, the remarkable exposition and commentary by Rana Foroohar, first appearing on July 22, 2019, is reposted here: "Is slow growth a crisis of values?"
May 6, 2020
Nobel prize winners Joseph Stiglitz and Edmund Phelps, in a letter signed by 138 economists from 20 countries, call for private creditors not to deprive indebted countries like Argentina of the ability to protect their people and provide for economic recovery. The message was reported almost immediately in a dispatch from Reuters that quickly went around the world.
May 5, 2020
Edmund Phelps's new book, "Dynamism: The Values That Drive Innovation, Job Satisfaction, and Economic Growth," co-authored with Raicho Bojilov, Hian Teck Hoon and Gylfi Zoega is available from Harvard University Press! Order here.
Phelps, Raicho Bojilov, Hian Teck Hoon, and Gylfi Zoega find evidence that differences in nations’ values matter—and quite a lot. It is no accident that the most innovative countries in the West were rich in values fueling dynamism. Nor is it an accident that economic dynamism in the United States, Britain, and France has suffered as state-centered and communitarian values have moved to the fore.
The authors lay out their argument in three parts. In the first two, they extract from productivity data time series on indigenous innovation, then test the thesis on the link between values and innovation to find which values are positively and which are negatively linked. In the third part, they consider the effects of robots on innovation and wages, arguing that, even though many workers may be replaced rather than helped by robots, the long-term effects may be better than we have feared. Itself a significant display of creativity and innovation, Dynamism will stand as a key statement of the cultural preconditions for a healthy society and rewarding work.
April 30, 2020
Sandra Navidi interviews Edmund Phelps for NTV, "Die Corona-Krise als Innovationsmotor?"
April 23, 2020
Ben Chu interviews Edmund Phelps for the Independent,"Trump's coronavirus rescue package must double to $4tn, says Nobel-prize winning economist."
October 7, 2019
Edmund Phelps delivers the speech "’Isms’ Galore: Reflections on Deficits, Taxes and Systems,” at the 17th Annual Conference of the Center on Capitalism and Society: Progressivism, Socialism, Nationalism: What Room for Innovation and ‘Creative Destruction’? For Economics Justice to the Least Advantaged? For Teaching Youth the Good Life?. The conference took place at Columbia University's Italian Academy in New York. Other panelists in this session included Hian Teck Hoon, Richard Robb, and Gylfi Zoega.
Ben Chu interviews Edmund Phelps for the Independent,"Trump's coronavirus rescue package must double to $4tn, says Nobel-prize winning economist."
April 22, 2020
Mario Platero interviews Edmund Phelps for La Stampa, "Il premio Nobel Phelps: “Libertà e innovazione sono le nostre armi per la sopravvivenza.”
April 13, 2020
Allison Schrager interviews Edmund Phelps for Economics 21, "Conversation with E21: Edmund Phelps on the COVID-19 Response."
April 7, 2020
Edmund Phelps and Roman Frydman publish an op-ed in the Wall Street Journal, "Beating the Coronavirus is the Best Stimulus."
March 23, 2020
Roman Frydman and Edmund Phelps argue that neither citizens nor governments should recoil from the scale of state intervention needed to save our lives and livelihoods in the face of the COVID-19 crisis in their Project Syndicate article, "Insuring the Survival of Post Pandemic Economies."
December 17, 2019
Abby McCloskey discusses Mass Flourishing in "An Economy Where All Can Flourish" for InsideSources.
December 13, 2019
Brice Couturier's commentary on Phelps's recent op-ed on Germany in France Culture: "Politiquement, comme économiquement, le géant allemand donne des signes d'essoufflement."
December 12, 2019
Phelps delivers the speech "Dynamism and Inclusion Once More: What? Why? How?" by video at the University of Buenos Aires's IX Phelps Congress. The Congress honored the 2018 winner of the Phelps Medal for Economic Innovation, Terragene SA and the 2019 winner Iunigo. Terragene SA produces biotechnological supplies for infection control in industries and hospitals and Iunigo is the first Argentine insurtech company.
December 5, 2019
Edmund Phelps is interviewed on latest episode of Freakonomics, "Honey, I Grew the Economy."
November 22, 2019
Edmund Phelps publishes the op-ed "Dynamism, Innovation, and Germany’s Future" in Project Syndicate.
November 10, 2019
November 9, 2019
Edmund Phelps delivers the speech, "Free to do What with Our Lives?" at Berlin Wall 30 Economic Forum hosted by the Academy for Cultural Diplomacy in Berlin. Read coverage of the speech here.
October 7, 2019
Edmund Phelps delivers the speech "’Isms’ Galore: Reflections on Deficits, Taxes and Systems,” at the 17th Annual Conference of the Center on Capitalism and Society: Progressivism, Socialism, Nationalism: What Room for Innovation and ‘Creative Destruction’? For Economics Justice to the Least Advantaged? For Teaching Youth the Good Life?. The conference took place at Columbia University's Italian Academy in New York. Other panelists in this session included Hian Teck Hoon, Richard Robb, and Gylfi Zoega.
August 27, 2019
Edmund Phelps in discussion with Chairman Zhiping Song, moderated by Zhiyi He. Innovation Roundtable Dialogue on the 40th Anniversary of BNBM Group in Beijing.
August 26, 2019
August 25, 2019
Edmund Phelps in conversation with young entrepreneurs and students at Xinrui Business School, Beijing. He also attended the First Professor Meeting of Xinrui Business School.
August 25, 2019
"Gräbt sein eigenes Grab“ Nobelpreisträger Edmund Phelps kritisiert Trump scharf" Edmund Phelps is interviewed by Michael Hesse in Kölner Stadt-Anzeiger.
August 23, 2019
"Nobel laureate Phelps warns: industrialized countries should "not throw money around," (German) Nicole Bastian interviews Edmund Phelps is Handelsblatt.August 21, 2019
2) Photo, from left: Viviana Phelps, Edmund Phelps, Renate Rodrian-Jungen, Peter Jungen, Henriette Reker, Guo Linqin and Wu Ken, China's ambassador to Germany.
May 29, 2019
Edmund Phelps speaks on the panel " Nobel Laureates on Global Poverty" alongside Bernard Kouchner and Rigoberta Menchú Tum (moderated by Axel Bugge, and chaired by Daniel Traça) at the Estoril Conferences in Portugal.
August 20, 2019
"Why We Lied about Being Retired," Ian Rose interviews Edmund Phelps among other Nobel Laureates for BBC News.
"Reimagine Capitalism at the DNA Level," Karl Sjorgen references Phelps's Mass Flourishing in his latest work The Fairshare Model. Read a review of Sjorgen's The Stanford Social Innovation Review
August 8, 2019
"Boris has called time on Tony Blair's 'third way'. Prepare for an economic revolution," Marc Sidwell makes reference to Phelps's Mass Flourishing in The Telegraph.July, 22, 2019
"Is slow growth a crisis of values," Rana Foroohar of the Financial Times (online) on Edmund Phelps's latest thesis.
June 7, 2019
"Dynamism for the working class," Ryan Streeter relates Phelps's dynamism thesis to current American political tensions for AEI.
June 6, 2019
Edmund Phelps with Pasquasle Scandizzo, Luigi Paganetto, and Giuseppe Noveli at the 23rd ICABR (International Consortium on Applied Bioeconomy Research) conference in Ravello, Italy.
June 3, 2019
Edmund Phelps at the Universidad de Valencia.
June 1, 2019
"Investimento estrangeiro em Portugal não vai durar para sempre” is an Interview with Edmund Phelps by Ana Sanlez in Dinheiro Vivo.
"Occidente se equivoca al impedir que la gente de 65 años siga trabajando"is an Interview with Edmund Phelps in CincoDias.Edmund Phelps speaks on the panel " Nobel Laureates on Global Poverty" alongside Bernard Kouchner and Rigoberta Menchú Tum (moderated by Axel Bugge, and chaired by Daniel Traça) at the Estoril Conferences in Portugal.
Phelps delivers lecture "Grassroots Innovation: How and Why" at CSIC, Madrid.
May 22, 2019
Phelps participates in three panels at the Nobel Foundation's "Nobel Dialogues: The Future of Ageing",a daylong event held in Madrid. Watch video here.
Read about the event here.
May 21, 2019
"How to GAME the job crisis: build a legion of small entrepreneurs in a large scale" article on the Global Alliance for Mass Entrepreneurship spearheaded by Ravi Venkatesan, influenced by Edmund Phelps's Mass Flourishing (Princeton, 2013).
May 1, 2019
"How Flourishing Arose With Modern Values" by Edmund Phelps on Thrive Global.
April 25, 2019
"The Need for a Global Patent Market" (Chinese Translation) Edmund Phelps and Eskil Ullberg, Tencent.
April 19, 2019
Photos from the Center on Capitalism and Society's special conference: Women in an Inclusive Economy. Speakers included Senator Ifigenia Martínez (luncheon speaker), Patricia Armendáriz, Lisa D. Cook, Graciela Chichilnisky, Joyce DiDonato, Ianthe Dugan, Liza Featherstone, Raquel Fernández, Antara Haldar, Kim Heirston, Arianna Huffington, Merit Janow, Sylvia Nasar, Sandra Navidi, Jennifer Reingold, Carmen Reinhart, Richard Robb, Saskia Sassen, Shamina Singh, Betsey Stevenson, Anya Schiffrin, Gillian Tett, and Yang Lan.
March 29, 2019
"Ideas: Market process and real time" Carmelo Ferlito responds to Edmund Phelps's "Three Revolutions Economics Needs." March 26, 2019
"China Development Forum: What I learned from talking with 9 global CEOs" Cheng Lei of CGTN spoke to Edmund Phelps and others.March 24, 2019
"Trump’s tax cuts will boost the US economy for two more years at most, says Nobel Prize winner" Yen Nee Lee interviews Edmund Phelps on CNBC.March 24, 2019
Edmund Phelps is interview on CGTN. Watch here.
March 23, 2019
At the China Development Forum in Beijing, Edmund Phelps speaks on the panel session "Chinese Dream, American Dream: Aspiring for a Better Life.” Other speakers included WANG Shuo, Mike Leavitt, TONG Shijun, Doug DeVos, He, Fan, and YUAN Yue. Watch CCTV footage (in Chinese) here.
March 22, 2019
Edmund Phelps speaks on two panels ("Macroeconomic Overview: US, China, and Europe” and “Industrial Policies, Frontier Innovation, New Technologies, and Entrepreneurship”) at China and the West: The Role of the State in Economic Growth, a conference in Beijing co-sponsored by Columbia University’s SIPA, Tsinghua University’s School of Economics and Management, and Peking University’s Institute of New Structural Economics.
He also delivers a presentation titled "The Need for a Global Patent Market," at an event hosted by the Development Research Center of the State Council of the People's Republic of China. Other speakers included Joseph Stiglitz, Michael Spence and Christopher Pissarides.
Pictured below: David Li, Jacob Lew, Edmund Phelps, Peter Jungen.
March 1, 2019.
Edmund Phelps speaks on a panel "Corporate Governance in the Context of Global Economic Circumstances" with Bruce Greenwald, moderated by Joshua Mitts. This panel was part of a daylong conference on corporate governance counter-narratives hosted by Columbia University's Ira Millstein Center. Watch a video recording of the session here.
February 21, 2019
Bill Gates holding Mass Flourishing next to Ravi Venkatesan of the Global Alliance for Mass Entrepreneurship (GAME), a coalition inspired by Mass Flourishing that is attempting to enable 10M young people in India and 7M in Africa to become innovators and entrepreneurs by 2030.
February 19, 2019
Bureaucracy vs Democracy Forum co-hosted by Common Good and the Center on Capitalism and Society at Columbia University. Panelists included: Patrick Foye, Francis Fukuyama, Nicole Gelinas, Heather R. Higgins, Bruce D. Homer, Sally Katzen, Paul C. Light, Robin Lake, Meghan McArdle, Paul Romer, Richard Sennett, Diana Taylor, Jeremy Waldron, Mark Whitaker, Edmund Phelps, Richard Robb. Chaired by Philip H. Howard.
January 31, 2019
The Center on Capitalism and Society hosts Italian Minister of Economy and Finance Giovanni Tria at Columbia University's Low Library. Minister Tria delivered the lecture "Italy's Policy Challenges: In Search of a New Course." Click here for a text version of the lecture and here to view video.
January 23, 2019
The Three Revolutions Economics Needs, Op-ed by Edmund Phelps is published by Project Syndicate. Also in Market Watch under the title To fix Our Economic and Social Malaise, We Need to Rediscover Where Progress Comes From.
January 15, 2019
From left to right: Lars Hansen, Sir Angus Deaton, Pierre-André Chiappori, Edmund Phelps, James Heckman.
Edmund Phelps participated in a roundtable at Paris-Dauphine Université on the Direction for Future Research in Economics. Other panelists in this session included Sir Angus Deaton, Lars Hansen, and James Heckman; moderated by El Mouhoub Mouhoud. Read about the event in Le Monde: "L’air du temps est décidément au grand débat, même pour la science économique."
January 8, 2019
"Innovators shine light on the path" by Edmund Phelps in China Daily.------------------------------------------------------------------------------------------------------------------------------------------------------------------------
December 14, 2018
Edmund Phelps attends the inauguration ceremony of the Institute of New Structural Economics (INSE) at Peking University, Beijing.
Phelps accepted Justin Yifu Lin's invitation to become a member INSE's academic advisory council.
December 13, 2018
INET-INSE Joint Conference on New Structural Economics at Peking University, Beijing. Speakers and Panelists included: Justin Yifu Lin, Adair Turner, Edmund Phelps, Celestin Monga, Jack Gao, Julian Gewirtz, Ashwini Deshpande, Finn Tarp, Francis Lui, Yuan Yang, Yong Wang, Robert Johnson, Xiaodong Zhu, Roger Myuerson, Arkebe Oqubay Metiku, Folashade Soule-Kohndou, John Powell, Andrew Sheng, Weisen Li.
December 11, 2018
Edmund Phelps delivered the lecture "Yes to Nourishing Dynamism, No to Stimulating Demand" at Tsinghua University in Beijing and signed copies of the second Chinese edition of Mass Flourishing (CITIC Press).
December 9, 2018
Edmund Phelps speaks at "The International Symposium on the Economic Lessons Learned from China's 40 Years of Reform and Opening Up" held at Tsinghua University. Other speakers included (in order of appearance) : Chen Xu, David Daokui Li, Edward C. Prescott, Eric Maskin, Thomas J. Sargent, Barry J. Eichengreen, Dani Rodrik, Erik Berglöf, Yann Algan, MA Jiantang, Xu Chenggang,
November 14, 2018
Sebastian Galiani lists Phelps's textbook Political Economy has fundamental to deepening knowledge in economics.
El Cronista
November 4, 2018
Phelps appears in 2nd episode of TV documentary "How is America Ticking" with Sandra Navidi: watch here in German. (13:00)
October 24, 2018
Project Syndicate, in collaboration with the Center, published "The Economic Consequences of Mr. Trump," interviews with five leading economists about the US economy during Trump's presidency. The piece was filmed on the occasion of the Center's 16th annual conference on Trump this September 17th at Columbia University. Watch Edmund Phelps, Barry Eichengreen, Glenn Hubbard, Rana Foroohar and Angus Deaton. Watch here.
October 22, 2018
Edmund Phelps delivers a speech on values and economic dynamism at the New York Summit organized by the Inspiring Committed Leaders Foundation :
October 4, 2018Edmund Phelps appeared on the panel “Politics, Policy, and Risk,” at the Santa Fe Institute's conference Risk : Retrospective Lessons & Prospective Strategies which was held at Morgan Stanley in New York.
September 27, 2018
"Nobel Prize in Economics Phelps predicts recession in the US within a year"Interview with Die Presse, also in Gestion and 20 Minutes.
Link (German)
Link (Spanish)
Link (French)
September 17, 2018
Photos from the Center on Capitalism and Society's 16th Annual Conference: The Economic Consequences of Mr. Trump: Job, Wages, Trade, Growth, Health and Satisfaction held at Columbia University. Speakers include Robert Aliber, Edmond Alphandéry, Charles Calomiris, Sir Angus Deaton, Barry Eichengreen, Rana Foroohar, Roman Frydman, Jason Furman, David Goldman, Geoff Heal, Philip K. Howard, Glenn Hubbard, Laurence Kotlikoff, Edward Luce, Sandra Navidi, Edmund Phelps, Richard Robb, Jeffrey Sachs, Richard Sennett, Joseph Stiglitz and Nicholas Wapshott.
September 13, 2018
Edmund Phelps delivers the paper, "Two Kinds of Robots in Growth Models: An Introduction" at the NBER Conference Economics of Artificial Intelligence in Toronto.
Watch his presentation here.
August 30-31, 2018
Edmund Phelps delivers a keynote speech titled "Trying to Improve a Future that is Seriously Unknown" at The 2008 Global Financial Crisis in Retrospect Conference held at the University of Iceland, Reykjavik.
July 31, 2018
Reference to Phelps in French news:
"L’ignorance économique des Français plombe la croissance"Damien Theillier
Contrepoints
July 11, 2018
"Three Speeches on Europe: Berlin, Barcelona, Rome" by Edmund Phelps is available to read on the Center on Capitalism and Society website.
June 28, 2018
Phelps discusses UBI:
"Minimum income: for Di Maio priority, for Nobel Phelps 'a very bad idea'" (In Italian)Mariangela Tessa
Alberto Petrucci, Edmund Phelps, Francesco Nucci and Ernesto Felli at Tor Vergata University, Rome.
Edmund Phelps is presented with a Distinguished Professor award from University Tor Vergata, Rome for his high merits in the field of economics.
Edmund Phelps delivered a lecture on the subject of Innovation and China at Tor Vergata University in Rome in celebration of the 30th anniversary of the Faculty of Economics. Rector Giuseppe Novelli opened the event with greetings and Prof. Giovanni Tria , former dean of the Faculty of Economics and recently appointed Minister of Economy and Finance, introduced Edmund Phelps. Video of the event can be viewed here. (Edmund Phelps beginning at 32:30.)
Edmund Phelps receiving Tor Vergata Medal at the 30th Villa Mondragone International Economic Seminar in Rome.
Edmund Phelps served as a juror for the Rey Jaime I Prize in Economics 2018, Palau de la Generalitat, Valencia.
Center on Capitalism and Society foreign member Juan Vincente Sola and Edmund Phelps before Sola's induction into the Royal European Academy of Doctors in Barcelona.
Edmund Phelps with Dr. José Ramón Calvo of the Royal European Academy of Doctors in Barcelona.
Edmund Phelps, Nouriel Roubini, and Martin Wolf at the China Development Forum in Beijing. This sessions was called "How Far Are We From the Next Financial Crisis?"
Wall Street Italia
June 26, 2018
Alberto Petrucci, Edmund Phelps, Francesco Nucci and Ernesto Felli at Tor Vergata University, Rome. 
Edmund Phelps delivered a lecture on the subject of Innovation and China at Tor Vergata University in Rome in celebration of the 30th anniversary of the Faculty of Economics. Rector Giuseppe Novelli opened the event with greetings and Prof. Giovanni Tria , former dean of the Faculty of Economics and recently appointed Minister of Economy and Finance, introduced Edmund Phelps. Video of the event can be viewed here. (Edmund Phelps beginning at 32:30.)
June 25, 2018
Edmund Phelps receiving Tor Vergata Medal at the 30th Villa Mondragone International Economic Seminar in Rome. Edmund Phelps spoke on economic growth in Italy and Western Europe at the 30th Villa Mondragone International Economic Seminar
in Rome.
June 5, 2018
June 4, 2018
Edmund Phelps delivers a lecture on grassroots innovation to the students of EDEM Business School in Valencia.
Edmund Phelps with Javier Quesada, President of the Rey Jaime I Awards Foundation at EDEM Business School in Valencia.
Right:Edmund Phelps signs a copy of his book Mass Flourishing (Princeton, 2013) to Javier Quesada, President of the Rey Jaime I Awards Foundation.
June 1, 2018
May 29, 2018
Edmund Phelps delivers keynote speech during the session called "Turning Around the Downward Spiral of Economic, Social and Political Cohesion" at the Global Solutions Summit 2018 in Berlin. See more photos on twitter.
April 26, 2018
Edmund Phelps participated in the World Economic Forum meeting of the Digital Economics Group co-hosted by MIT's Initiative on the Digital Economy and Columbia University's SIPA. The meeting was held at the WEF offices in New York.
April 23, 2018
"How Milton Friedman and Edmund Phelps changed macroeconomics"Vivek Dehejia
livemint
livemint
April 22, 2018
Edmund Phelps delivers keynote speech at the NYU Skirball Center to close the conference "China's Transformation: A Decade of Innovation" which was co-hosted by Global China Connection and NYU.
Read about the event (in Chinese) here.
April 14, 2018
Edmund Phelps was named as one of China's 40 most influential foreign experts by China's State Administration of Foreign Experts Affairs (SAFEA) on the 40th anniversary of China's period of "reform and opening up." The list was presented by Lu Ming of the Ministry of Science and Technology in Shenzhen during the Global Intelligence Forum.
April 9, 2018
"China should turn to 'good economy'"
Interview with Wu Si
China Policy Review
March 24, 2018
March 23, 2018
China and the West: the Role of the State in Economic Growth Conference co-sponsored by Columbia University SIPA, Peking University, and Tsinghua University, Beijing. The picture above is from Session III: The Role of Innovation and the Digital Economy: New Opportunities and Challenges for Governance.Some notable participants include: Larry Summers, Merit Janow, and Edmund Phelps.
China and the West: the Role of the State in Economic Growth Conference co-sponsored by Columbia University SIPA, Peking University, and Tsinghua University, Beijing.The above photo is from Open Session: The Future of Global Economic Relations: Lessons from China, the EU, the US and Beyond. Participants included: Lan Yang, Merit E. Janow, Justin Yifu Lin, Edmund Phelps, Yan Mei, Jeffrey Sachs, Pun Hoi Yu, Jun Zhang, Jan Svejnar, Haizhou Huang.
March, 22, 2018
China and the West: the Role of the State in Economic Growth Conference co-sponsored by Columbia University SIPA, Peking University, and Tsinghua University, Beijing. The above photo is from Session I: Changes in Chinese, US and European Economic Policy chaired by Jan Svejnar. Participants in the session included: Jacob J. Lew, Justin Yifu Lin, Pun Hoi Yu, Jacob Frenkel, Edmund Phelps, Min Zhu, Feng Lu, David Daokui Li, Ping Chen, Rakesh Mohan, Yifei Li, Yong Liu, and Stephen Green.
March 2, 2018
Edmund Phelps discusses Mass Flourishing with David Blair of China Daily, Europe: "Finding opportunities to flourish"
February 7, 2018
Premier Li Keqiang remarks on the importance of Phelps's "Mass Flourishing" in China's new era of innovation: click here.
February 5, 2018
Edmund Phelps speaks at meeting of Foreign Experts with Premier Li Keqiang in Beijing: watch here
January 26, 2018
January 25, 2018
Edmund Phelps participates in the video conference call Ensuring A Dynamic, Innovative, and Flourishing Economy: Policy Thinking in the Age of Trump and delivers an edited version of his speech "A Vital People: A Necessity for a Good Economy." The call was hosted by DisruptDC.
January 18, 2018
Edmund Phelps receives Honoris Causa from Libera Università Internazionale degli Studi Sociali Guido Carli (LUISS) in Rome, Italy.
Read the Italian translation of Edmund Phelps's acceptance speech in the Italian newspaper Il Sole 24 Ore here.
The English version can be found on the Center of Capitalism and Society's website: click here.
To read a post-ceremony interview between journalist Nicola Lillo and Edmund Phelps in the Italian newspaper La Stampa click here.
Photo descriptions (left to right): Edmund Phelps with Honoris Causa medal; Edmund Phelps delivering acceptance speech "A Vital People: A Necessity for a Good Economy"; Edmund Phelps with Jean-Paul Fittoussi and Lucio Scandizzo; Edmund Phelps with Franceso Nucci and Giovanni Tria; Edmund Phelps with Giorgio di Giorgio and Anton Muscatelli.
January 18, 2018
Trump 'Seriously Stumbled' on Tax Law, Nobel Winner Phelps Says on Bloomberg: watch here.
January 5, 2018
Edmund Phelps speaks on the panel TrumpEconomics: A First Year Evaluation with Olivier Blanchard, Joseph Stiglitz, and Lawrence Summers, moderated by Dominick Salvatore at the ASSA Annual Meeting of the American Economic Association. Watch a recording of the session here (Phelps beginning at 33:33).
To read the text versions of all the presentations in this session click here.
Read James Pethokoukis's review of Edmund Phelps's paper on the American Enterprise Institute's website here.
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December 11, 2017
David Steele-Figueredo in the Huffington Post on the Center on Capitalism and Society's 15th annual conference, "The Age of the Individual":
November 28, 2017
November 28, 2017
Edmund Phelps signing copies of Mass Flourishing at the Museum of American Finance's conference "Restoring American Economic Dynamism."
November 27, 2017
Edmund Phelps on Bloomberg Markets discussing the Federal Reserve Chairman Nominee Jerome Powell, "Will Jay Powell Tip Hand at Confirmation Hearing?"
November 21, 2017
Edmund Phelps discusses innovation on France Culture radio: "L’esprit innovant d’Edmund Phelps "
November 21, 2017
Edmund Phelps delivers speech, "France: Becoming an 'Innovation Nation' Again" at the Ministry of Economy and Finance in Paris.
November 9, 2017
Listen to Edmund Phelps on Bloomberg Surveillance: "Edmund Phelps Says It’d Be Good to Try Higher Interest Rates."
Edmund Phelps on Bloomberg Markets this morning: "Nobel Laureate Phelps on Inflation and Fed Policy"
November 3, 2017
James Mackintosh covers the Center on Capitalism and Society's 15th Annual Conference in the Wall Street Journal: "What 500 Years of Protestantism Teaches Us About Capitalism’s Future."
October 31, 2017
A selection of photos from the Center on Capitalism and Society's 15th Annual Conference: The Age of the Individual 500 Years Ago Today. The conference was held at Columbia's Low Memorial Library. From more information and for video footage from the conference click here.
From left to right, top to bottom: Roman Frydman and Michael Woodford; Richard Robb, David Sidorsky, George Rupp, Richard Sennett; Peter Jungen and Edmund Phelps; Richard Sennett and Saskia Sassen;Robert Shiller; Edmund Phelps; Jean-Paul Fitoussi and Edmund Phelps.
October 6, 2017
President Barack Obama with Edmund Phelps at the Second Green Economy Summit in Córdoba, Argentina.
October 20, 2017
Tsinghua University School of Economics Dean Qian Yingyi names Mass Flourishing as recommended reading alongside 9 other books, read the full list here: Link
October 10, 2017
October 10, 2017
"Premio Nobel de economía asegura que 'el cambio climático se ha vuelto muy costoso'"Chacra
October 5, 2017
In Córdoba, Argentina, Edmund Phelps gave the keynote address "Saving the Environment" at the Advanced Leadership Foundation's Second Green Economy Summit. Other speakers included President Barack Obama, and Nobel Laureate Eric Maskin. Read an interview between Gabriela Origlia and Sofía Diamante from La Nacion and Edmund Phelps about the event here: link. An additional interview with Martni Dinatale and Juan Parilla of Infobae can be read here: link .
Edmund Phelps signs copies of Una Prosperidad Inaudita (RBA, 2017), the Spanish translation of Mass Flourishing at the Second Green Economy Summit.
September 13, 2017
"La réussite, le vrai moteur du « rêve américain »
[French translation of "This Thing Called the American Dream," originally published in Project Syndicate]
Le Monde
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To contact for potential events: Edmund Phelps: esp2@columbia.edu
