Edmund Phelps
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Edmund Strother "Ned" Phelps, Jr. (born July 26, 1933 in Evanston, Illinois) is an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences. He is renowned for his work on economic growth at Yale's Cowles Foundation in the 1960s, in particular the idea of the Golden Rule savings rate, which deals with how much should be spent today versus how much should be saved for future generations. His most seminal work is probably the introduction of expectations-based...
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