🔬Science & Academia

Edmund Phelps

American · 92 years old · Died 5 April 2026

Nobel Prize in Economics (2006) — inflation and unemployment trade-offs

Edmund Phelps won the Nobel Memorial Prize in Economic Sciences for his analysis of the trade-off between inflation and unemployment. He challenged the prevailing Phillips curve orthodoxy and showed that there is no permanent trade-off between the two — only a short-run one. His work reshaped macroeconomic policy and influenced central banks around the world.