2007 Nobel Prize Winner Ned Phelps at Colombia ecomomics professor and Joseph Stiglitz, Nobel Prize Winner 2001/Columbia University professor both endorse Barack Obama for President on CNBC Squawkbox 4/25/08.
Stiglitz worked for President Clinton as an advisor and said that Hillary doesn't have the right policy. She is too tied to the past and doesn't have the correct focus and won't support her. Obama has the right focus and is brilliant. Everyone thinks we need Obama who has new ideas amd will bring in new people with new ideas.


Edmund Phelps -- Today's Nobel Prize in economics

International Affairs, Room 1004

Phone: 212-854-2060 Dept. Phone: 212-854-3680 Fax: 212-854-3735 Email: esp2@columbia.edu

Edmund Phelps.  Here is the announcement from Sweden. 

Here is his autobiography.  He was born in Chicago in 1933 and now teaches at Columbia.  Here is his CV, and here is another version.  Here are recent papers.  His Wikipedia entry is a short stub, but watch it grow.

Here is his summary of his research.  Here is another good summary of his work.  This summary, from Sweden, is the best and most comprehensive, albeit more technical.

His main contribution is a better understanding of the Phillips curve and the dynamics of short-run unemployment and the concept of the natural rate of unemployment.  He gave the Phillips curve microfoundations and developed the "expectations-augmented Phillips curve."  As the name suggests, the level of inflationary expectations matter for how money will influence output.