Monday, October 09, 2006

No Nobel for Fama . . . Yet

Edmund S. Phelps, an economist I have never heard of, won the prize. I'm sure he's deserving, but I wish it had been Fama...

UPDATE: Phelps modeled the relationship between unemployment and inflation, and while I am far from qualified to address the novelty or quality of his work, there is no doubt that it is important. Maybe next year for Fama.

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