My Journeys in Economic Theory is popular PDF and ePub book, written by Edmund Phelps in 2023-05-16, it is a fantastic choice for those who relish reading online the Biography & Autobiography genre. Let's immerse ourselves in this engaging Biography & Autobiography book by exploring the summary and details provided below. Remember, My Journeys in Economic Theory can be Read Online from any device for your convenience.
My Journeys in Economic Theory Book PDF Summary
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.
Detail Book of My Journeys in Economic Theory PDF
- Author : Edmund Phelps
- Release : 16 May 2023
- Publisher : Columbia University Press
- ISBN : 9780231556910
- Genre : Biography & Autobiography
- Total Page : 287 pages
- Language : English
- PDF File Size : 8,8 Mb
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