Comments on: Edmund Phelps wins Nobel for overturning economic myth http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/ "I accept no responsibility for statistics, which are a form of magic beyond my comprehension." -- Robertson Davies Sat, 13 Dec 2008 07:05:30 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Magic Statistics - “I accept no responsibility for statistics, which are a form of magic beyond my comprehension.” — Robertson Davies » Milton Friedman, RIP http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/comment-page-1/#comment-7057 Magic Statistics - “I accept no responsibility for statistics, which are a form of magic beyond my comprehension.” — Robertson Davies » Milton Friedman, RIP Fri, 17 Nov 2006 01:05:20 +0000 http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/#comment-7057 [...] Dr Friedman and Edmund Phelps of Columbia University, this year's winner of the Nobel Prize for Economics, developed the now-generally accepted concept of the "natural rate of unemployment" (more accurately but less elegantly called the "non-accelerating inflation rate of unemployment", or NAIRU).  Given current labour-market conditions, macroeconomic measures to decrease unemployment below the "natural rate" will generate higher inflation.  Moreover, decreases in unemployment, if indeed any result, will be short-lived and unemployment will soon return to the "natural rate". [...] [...] Dr Friedman and Edmund Phelps of Columbia University, this year's winner of the Nobel Prize for Economics, developed the now-generally accepted concept of the "natural rate of unemployment" (more accurately but less elegantly called the "non-accelerating inflation rate of unemployment", or NAIRU).  Given current labour-market conditions, macroeconomic measures to decrease unemployment below the "natural rate" will generate higher inflation.  Moreover, decreases in unemployment, if indeed any result, will be short-lived and unemployment will soon return to the "natural rate". [...]

]]> By: Magic Statistics - “I accept no responsibility for statistics, which are a form of magic beyond my comprehension.” — Robertson Davies » Banker awarded Nobel Peace Prize http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/comment-page-1/#comment-5044 Magic Statistics - “I accept no responsibility for statistics, which are a form of magic beyond my comprehension.” — Robertson Davies » Banker awarded Nobel Peace Prize Sat, 14 Oct 2006 04:47:44 +0000 http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/#comment-5044 [...] Edmund Phelps wins Nobel for overturning economic myth [...] [...] Edmund Phelps wins Nobel for overturning economic myth [...]

]]> By: Magic Statistics - “I accept no responsibility for statistics, which are a form of magic beyond my comprehension.” — Robertson Davies » Offer generous unemployment benefits, get higher unemployment http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/comment-page-1/#comment-5024 Magic Statistics - “I accept no responsibility for statistics, which are a form of magic beyond my comprehension.” — Robertson Davies » Offer generous unemployment benefits, get higher unemployment Thu, 12 Oct 2006 01:15:57 +0000 http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/#comment-5024 [...] Edmund Phelps wins Nobel for overturning economic myth [...] [...] Edmund Phelps wins Nobel for overturning economic myth [...]

]]> By: Tom Gilson http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/comment-page-1/#comment-5016 Tom Gilson Wed, 11 Oct 2006 19:56:53 +0000 http://magicstatistics.com/2006/10/10/edmund-phelps-wins-nobel-for-overturning-economic-myth/#comment-5016 There is also the matter of productivity. Technology has certainly pushed that to new heights. At the end of the Clinton/Gore era in the U.S., there was a saying going around that America's economic boom could be definitely attributed to Bill and Al--Bill Gates and Alan Greenspan. There is also the matter of productivity. Technology has certainly pushed that to new heights.

At the end of the Clinton/Gore era in the U.S., there was a saying going around that America’s economic boom could be definitely attributed to Bill and Al–Bill Gates and Alan Greenspan.

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