IDEAS home Printed from https://ideas.repec.org/a/cai/reofsp/reof_102_0015.html
   My bibliography  Save this article

Théorie macroéconomique pour une économie moderne. Conférence Nobel

Author

Listed:
  • Edmund S. Phelps
  • Éloi Laurent
  • Jacques Le Cacheux

Abstract

This article is a revised version of the lecture Edmund S. Phelps delivered in Stockholm, Sweden, on December 10, 2006, when he received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. The modern economy, where fully adopted, has been transformative for nations ? but much less so for economics. In neoclassical economics, the object of the theory is often not human endeavor as we know it ? only « prices and quantities ». Trying to put people into economic models became my project, from the analysis of the determination of the unemployment rate to the study of the business of growth. In modern economies, marked by the feasibility of endogenous change, innovation mechanism and discovery largely shape the experience and the rewards of participating in the economy. Thus emerges the question of the good economy, i.e. an economy that produces the stimulation, challenge, engagement, mastery, discovery, and development that constitute the good life. JEL Classification: E24, E50, E6, O10, O11, O43.

Suggested Citation

  • Edmund S. Phelps & Éloi Laurent & Jacques Le Cacheux, 2007. "Théorie macroéconomique pour une économie moderne. Conférence Nobel," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 15-52.
  • Handle: RePEc:cai:reofsp:reof_102_0015
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=REOF_102_0015
    Download Restriction: free

    File URL: http://www.cairn.info/revue-de-l-ofce-2007-3-page-15.htm
    Download Restriction: free

    More about this item

    Keywords

    modern economy; macroeconomics; growth; good economy;

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:reofsp:reof_102_0015. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire). General contact details of provider: http://www.cairn.info/revue-de-l-ofce.htm .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.