Just when you think George W. Bush has shamed America in to a dark hole, light emerges:
American Edmund S. Phelps won the 2006 Nobel Memorial Prize in Economic Sciences on
Monday for explaining the relationship between inflation and unemployment work that has had a profound impact on macroeconomic policy.
The 73-year-old Columbia University professor challenged prevailing views in the 1960s by developing a new economic model that has helped corporate and government leaders balance inflation and unemployment in decision-making.
Phelps is the sixth American to win a Nobel this year, meaning that every prize except for the literature and peace awards, which are yet to be announced, have gone to Americans.
Bravo! Congratulations. I find this especially enjoyable because I majored in economics in college, macro-economics was of particular interest to me and you can see the influence this man has had in shaping the economies of the world every single day. He is truly a genius with a real, significant impact on everyday working people. And I say this despite the fact that he went to Amherst College. ugh.
More after the jump...
