In this book, Nobel Prize-winning economist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument about what makes nations prosper--and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s,...

A crucial issue in the era of globalisation and internationalization, is whether the relationship between investment and finance is beneficial to growth and development. Received wisdom is that Research and Development is essential not only for maintaining productivity, but also for competing in...

This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark """"Phelps volume,"""" Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic...

Phelps explores what makes nations prosper--and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but "flourishing"--meaningful work, self-expression, and personal...

This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those...

Biographical note: Roman Frydman is professor of economics at New York University and the coauthor (with Michael D. Goldberg) of "Beyond Mechanical Markets" and "Imperfect Knowledge Economics". Edmund S. Phelps, the winner of the 2006 Nobel Prize in Economics, is director of Columbia...