A Review of Edmund Phelps, My Journeys in Economic Theory New York: Columbia University Press, 2023

This review argues that Edmund Phelps in fact undertook one journey, which led him to the theme of "flourishing," meaning that workers derive satisfaction from their job. He sees flourishing people rather than scientists and entrepreneurs as the ultimate source of innovation and hence econ...

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Bibliographic Details
Published inInternational Journal of the Economics of Business Vol. 31; no. 2; pp. 175 - 178
Main Author Zweifel, Peter
Format Journal Article Book Review
LanguageEnglish
Published Abingdon Routledge 03.05.2024
Taylor & Francis Ltd
Subjects
Economic growth
Economic theory
Entrepreneurs
flourishing
innovation
Innovations
island parable
Macroeconomics
Microeconomic foundations of macroeconomics
persistence of unemployment and inflation
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Summary:This review argues that Edmund Phelps in fact undertook one journey, which led him to the theme of "flourishing," meaning that workers derive satisfaction from their job. He sees flourishing people rather than scientists and entrepreneurs as the ultimate source of innovation and hence economic growth, a topic that has occupied his mind from the beginning of his brilliant career. The book makes for fascinating reading-and in passing traces the new Macroeconomics pioneered by its author.
ISSN:1357-1516
1466-1829
DOI:10.1080/13571516.2023.2271274