رحلتي في النظرية الاقتصادية.. إدموند فيلبس

Edmund Phelps is considered one of the most prominent economists of his generation. He developed a new understanding of unemployment and inflation, and reconsidered the roots of innovation. His work represents a lifelong project to put “people as we know them” at the center of economic theory. In this book, Phelps tells the story of his role in reformulating economic theory, providing an inspiring personal account of a creative and rewarding career. My Journeys into Economic Theory highlights two major phases of Phelps's work, highlighting the breadth of his contributions to the field. First, by presenting wage-setters' expectations and co-establishing the "equilibrium" unemployment rate, he laid the microeconomic foundations of the employment theory pioneered by Keynes and Hicks. More recently, he created the theory of “collective flourishing,” which replaced Schumpeter and Solow’s concept of the innovation process, a theory in which the creativity of individuals and the dynamism of society fuel popular innovation and generate job satisfaction in the process. Phelps recounts his rich experiences in the world of economics, from intense discussions, competition, and cooperation, to a valuable opportunity he spent in the company of prominent figures, as well as his relationships with figures such as John Rawls, Thomas Nagel, Paul Samuelson, and Paul Volcker. At its core, this book shares the joy of intellectual achievement: the excitement of creating a new idea that radically breaks with conventional wisdom, and the satisfaction of employing one's own creativity rather than applying or developing the models of others. My Travels in Economic Theory tells the story of a life full of intellectual adventures, offering a profound vision of a dynamic modern economy that gives a life rich in creativity and meaning.