"This is a terrific book, about as good as volumes of collected papers will ever get. It will attract considerable interest, because it brings together so many of our most illustrious people in macroeconomics to reconsider the concepts of one of our most influential theorists, Ned Phelps."—Robert J. Shiller, Yale University, author of Irrational Exuberance "This is an outstanding volume ... Read morefull of important contributions by major figures in each of the fields in which Phelps has contributed. It would be worth publishing just for the excellent introduction! Indeed, it would also be worth publishing just for the extremely valuable comments. But the papers themselves are excellent. They will be read and reread by successive generations of economists who understand Phelps's critical role in the development of modern economics."—Laurence J. Kotlikoff, Boston University "This volume makes it clear that Edmund 'Ned' Phelps did not simply contribute to modern macroeconomics but in many ways he defined it; and that his work is remarkable for its breadth and for its vitality as a source of new ideas. The papers included here, each of which examines and develops a theme originally raised by Phelps, are at the very frontier of current macroeconomic research. Consistent with this breadth and vitality, this book will find a wide audience."—Dominick Salvatore, Fordham University "Many of the outstanding papers in this volume explore genuinely new ideas. The book addresses a large number of the hottest current macroeconomic policy issues and related theoretical problems."—Duncan K. Foley, Graduate Faculty, New School University Show Less