• Publications
  • Influence
Investment in humans, technological diffusion and economic growth
Most economic theorists have embraced the principle that certain kinds of education—the three R's, vocational training, and higher education—equip a man to perform certain jobs or functions, orExpand
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The Statistical Theory of Racism and Sexism
My recent book, Inflation Policy and Unemployment Theory, introduces what is called the statistical theory of racial (and sexual) discrimination in the labor market.' The theory fell naturally out ofExpand
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On Second-Best National Saving and Game-Equilibrium Growth
This chapter highlights the question whether second-best saving is greater or smaller than first-best saving when given future saving is non-optimal from the standpoint of the present generation. TheExpand
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Money-Wage Dynamics and Labor-Market Equilibrium
  • E. Phelps
  • Economics
  • Journal of Political Economy
  • 1 July 1968
This chapter discusses money-wage dynamics and labor-market equilibrium. A generalized excess-demand theory of the rate of change of the average money-wage rate has been developed for frictionalExpand
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INFLATION IN THE THEORY OF PUBLIC FINANCE
What are the essential features of the thought-experiment one has in mind when he speaks of the “tax-like effect” of an increase in the anticipated rate of inflation? Various authors have had variousExpand
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Phillips Curves, Expectations of In#ation and Optimal Unem-ployment over Time
Readers of my article on optimal inflation over time1 will recognize its principal theme to be the following. Among all alternative equilibrium states of steady anticipated inflation or deflation,Expand
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THE GOLDEN RULE OF ACCUMULATION: A FABLE FOR GROWTHMEN
This chapter presents an understanding of Solovian growth and the economic growth issue. It discusses the way in which a brilliant peasant named Oiko Nomos claimed a prize for optimum investmentExpand
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Phillips Curves, Expectations of Inflation and Optimal Unemployment over Time: Reply
Readers of my article on optimal inflation over time1 will recognize its principal theme to be the following. Among all alternative equilibrium states of steady anticipated inflation or deflation,Expand
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