What do you mean “who cares?” An American won this time!
I actually encourage people to go into the field of economics as a profession, that way when they can’t find a job, at least they’ll know why they’re unemployed.
The prize went to Edmund S. Phelps…
…for explaining the relationship between inflation and unemployment, work that has had a profound impact on macroeconomic policy.
The 73-year-old Columbia University professor challenged prevailing views in the 1960s by developing a new economic model that has helped corporate and government leaders balance inflation and unemployment in decision-making.
Outling the correlation between inflation and unemployment is a little like describing the relationship between rum & cokes and car crashes. Talk about shooting fish in a barrel… but congrats to the Prof. nonetheless.
I still can’t believe I didn’t win for my piece, “Economics for Kidz.” Oh well, there’s always next year.
