{"title":"Edmund Phelps","description":"\u003cp\u003eEdmund Phelps' works explore the intricate interplay between economic theory and societal change. Through titles such as \u003cem\u003eDynamism\u003c\/em\u003e, readers encounter thoughtful analyses of economic innovation and its impact on political structures and current affairs.\u003c\/p\u003e\n\n\u003cp\u003eHis writing also offers reflective insights into his personal intellectual journey, blending elements of \u003cstrong\u003ebiography and memoir\u003c\/strong\u003e with profound economic discourse. Phelps invites readers to engage with the evolving nature of economies and ideas that shape our world.\u003c\/p\u003e","products":[{"product_id":"my-journeys-in-economic-theory-by-edmund-phelps-9780231219105","title":"My Journeys in Economic Theory","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eEdmund 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.\u003c\/p\u003e\n\n\u003cp\u003eIn this book, Phelps tells the story of his role in reshaping economic theory, offering a powerful personal account of a creative and rewarding career. \u003cem\u003eMy Journeys in Economic Theory\u003c\/em\u003e 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.\u003c\/p\u003e\n\n\u003cp\u003ePhelps 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.\u003c\/p\u003e\n\n\u003cp\u003eTelling the story of a life packed with intellectual adventure, \u003cem\u003eMy Journeys in Economic Theory\u003c\/em\u003e provides a profound vision of a dynamic, modern economy that offers lives rich with creativity and meaning.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Unknown","offers":[{"title":"Default Title","offer_id":46855812481260,"sku":"9780231219105","price":41.99,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/8247753482270.jpg?v=1759279045"},{"product_id":"my-journeys-in-economic-theory-by-edmund-phelps-9780231207300","title":"My Journeys in Economic Theory","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eEdmund 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.\u003c\/p\u003e\n\n\u003cp\u003eIn this book, Phelps tells the story of his role in reshaping economic theory, offering a powerful personal account of a creative and rewarding career. \u003cem\u003eMy Journeys in Economic Theory\u003c\/em\u003e 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.\u003c\/p\u003e\n\n\u003cp\u003ePhelps 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, \u003cem\u003eMy Journeys in Economic Theory\u003c\/em\u003e offers a profound vision of a dynamic, modern economy that delivers lives rich with creativity and meaning.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Unknown","offers":[{"title":"Default Title","offer_id":46855813333228,"sku":"9780231207300","price":176.99,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/8129703482270.jpg?v=1759279060"},{"product_id":"dynamism-by-edmund-phelps-9780674244696","title":"Dynamism","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003e\u003cb\u003eNobel Laureate Edmund Phelps and an international group of economists argue that economic health depends on the widespread presence of certain values, in particular individualism and self-expression.\u003c\/b\u003e\u003c\/p\u003e\n\n\u003cp\u003eNobel Laureate Edmund Phelps has long argued that the high level of innovation in the lead nations of the West was never a result of scientific discoveries plus entrepreneurship, as Schumpeter thought. Rather, modern values—particularly the individualism, vitalism, and self-expression prevailing among the people—fuelled the dynamism needed for widespread, indigenous innovation. Yet finding links between nations' values and their dynamism was a daunting task. Now, in \u003ci\u003eDynamism\u003c\/i\u003e, Phelps and a trio of coauthors take it on.\u003c\/p\u003e\n\n\u003cp\u003ePhelps, 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 fuelling dynamism. Nor is it an accident that economic dynamism in the United States, Britain, and France has suffered as state-centred and communitarian values have moved to the fore.\u003c\/p\u003e\n\n\u003cp\u003eThe 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, \u003ci\u003eDynamism\u003c\/i\u003e will stand as a key statement of the cultural preconditions for a healthy society and rewarding work.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Unknown","offers":[{"title":"Default Title","offer_id":47424069730540,"sku":"9780674244696","price":75.99,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780674244696.jpg?v=1774769232"}],"url":"https:\/\/bookhero.co.nz\/collections\/edmund-phelps.oembed","provider":"Book Hero","version":"1.0","type":"link"}