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Edmund S. Phelps
Edmund Strother Phelps (born July 26, 1933) is an American economist and the recipient of the 2006 Nobel Memorial Prize in Economic Sciences. Early in his career, he became known for his research at Yale's Cowles Foundation in the first half of the 1960s on the sources of economic growth. His demonstration of the golden rule savings rate, a concept related to work by John von Neumann, started a wave of research on how much a nation should spend on present consumption rather than save and invest for future generations. Phelps was at the University of Pennsylvania from 1966 to 1971 and moved to Columbia University in 1971. His most seminal work inserted a microfoundation, one featuring imperfect information, incomplete knowledge and expectations about wages and prices, to support a macroeconomic theory of employment determination and price-wage dynamics. That led to his development of the natural rate of unemployment: its existence and the mechanism governing its size. In the e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Evanston, Illinois
Evanston is a city in Cook County, Illinois, United States, situated on the North Shore (Chicago), North Shore along Lake Michigan. A suburb of Chicago, Evanston is north of Chicago Loop, downtown Chicago, bordered by Chicago to the south, Skokie, Illinois, Skokie to the west, Wilmette, Illinois, Wilmette to the north, and Lake Michigan to the east. Evanston had a population of 78,110 . Founded by Methodist business leaders in 1857, the city was incorporated in 1863. Evanston is home to Northwestern University, founded in 1851 before the city's incorporation, one of the world's leading research university, research universities. Today known for its ethnically diverse population, Evanston is heavily shaped by the influence of Chicago, externally, and Northwestern, internally. The city and the university share a historically complex long-standing relationship. History Prior to the 1830s, the area now occupied by Evanston was mainly uninhabited, consisting largely of wetlands a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imagination
Imagination is the production of sensations, feelings and thoughts informing oneself. These experiences can be re-creations of past experiences, such as vivid memories with imagined changes, or completely invented and possibly fantastic scenes. Imagination helps apply knowledge to solve problems and is fundamental to integrating experience and the learning process. Imagination is the process of developing theories and ideas based on the functioning of the mind through a creative division. Drawing from actual perceptions, imagination employs intricate conditional processes that engage both semantic and episodic memory to generate new or refined ideas. This part of the mind helps develop better and easier ways to accomplish tasks, whether old or new. A way to train imagination is by listening to and practicing storytelling (narrative), wherein imagination is expressed through stories and writings such as fairy tales, fantasies, and science fiction. When children develop their i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Von Neumann
John von Neumann ( ; ; December 28, 1903 – February 8, 1957) was a Hungarian and American mathematician, physicist, computer scientist and engineer. Von Neumann had perhaps the widest coverage of any mathematician of his time, integrating Basic research, pure and Applied science#Applied research, applied sciences and making major contributions to many fields, including mathematics, physics, economics, computing, and statistics. He was a pioneer in building the mathematical framework of quantum physics, in the development of functional analysis, and in game theory, introducing or codifying concepts including Cellular automaton, cellular automata, the Von Neumann universal constructor, universal constructor and the Computer, digital computer. His analysis of the structure of self-replication preceded the discovery of the structure of DNA. During World War II, von Neumann worked on the Manhattan Project. He developed the mathematical models behind the explosive lense ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Golden Rule Savings Rate
In economics, the Golden Rule savings rate is the rate of savings which maximizes steady state level of the growth of consumption, as for example in the Solow–Swan model. Although the concept can be found earlier in the work of John von Neumann and Maurice Allais, the term is generally attributed to Edmund Phelps who wrote in 1961 that the golden rule "do unto others as you would have them do unto you" could be applied inter-generationally inside the model to arrive at some form of "optimum", or put simply "do unto future generations as we hope previous generations did unto us."Origin of the term described at newschool.edu In the Solow growth model, a steady state savings rate of 100% implies that all income is going to investment |
Economist
An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophy, philosophical theory, theories to the focused study of minutiae within specific Market (economics), markets, macroeconomics, macroeconomic analysis, microeconomics, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, Computational economics, economics computational models, financial economics, regulatory impact analysis and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yale University
Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United States, and one of the nine colonial colleges chartered before the American Revolution. Yale was established as the Collegiate School in 1701 by Congregationalism in the United States, Congregationalist clergy of the Connecticut Colony. Originally restricted to instructing ministers in theology and sacred languages, the school's curriculum expanded, incorporating humanities and sciences by the time of the American Revolution. In the 19th century, the college expanded into graduate and professional instruction, awarding the first Doctor of Philosophy, PhD in the United States in 1861 and organizing as a university in 1887. Yale's faculty and student populations grew rapidly after 1890 due to the expansion of the physical campus and its scientif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bachelor Of Arts
A Bachelor of Arts (abbreviated B.A., BA, A.B. or AB; from the Latin ', ', or ') is the holder of a bachelor's degree awarded for an undergraduate program in the liberal arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four years, depending on the country and institution. * Degree attainment typically takes five or more years in Argentina, Brazil, Chile, and Peru. * Degree attainment typically takes four years in Afghanistan, Armenia, Azerbaijan, Bangladesh, Brunei, Bulgaria, Canada (except Quebec), China, Egypt, Finland, Georgia, Ghana, Greece, Hong Kong, Indonesia, India, Iran, Iraq, Ireland, Jamaica, Japan, Kazakhstan, Kenya, Kuwait, Latvia, Lebanon, Lithuania, Malaysia, Mexico, Mongolia, Myanmar, Nepal, the Netherlands, Nigeria, Pakistan, the Philippines, Qatar, Russia, Saudi Arabia, Scotland, Serbia, Singapore, South Africa, South Korea, Spain, Sri Lanka, Taiwan, Thailand, Turkey, Ukraine, the United S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amherst College
Amherst College ( ) is a Private college, private Liberal arts colleges in the United States, liberal arts college in Amherst, Massachusetts, United States. Founded in 1821 as an attempt to relocate Williams College by its then-president Zephaniah Swift Moore, Amherst is the third oldest institution of higher education in List of colleges and universities in Massachusetts, Massachusetts. The institution was named after the town, which in turn had been named after Jeffery Amherst, 1st Baron Amherst, Jeffery, Lord Amherst, Commander-in-Chief of British forces of North America during the French and Indian War. Originally established as a Men's colleges, men's college, Amherst became Mixed-sex education, coeducational in 1975. Amherst is an exclusively undergraduate four-year institution; 1,971 students were enrolled in fall 2021. Admissions are highly selective. Students choose courses from 42 major programs in an Curriculum#Open curriculum, open curriculum and are not required to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friendship Award
The Chinese Government's Friendship Award () is the People's Republic of China's highest award for "foreign experts who have made outstanding contributions to the country's economic and social progress". The award was first established as the Medal of Sino-Soviet Friendship in 1951, when it was awarded to experts from the former Soviet Union and East European countries by the then premier Zhou Enlai and the foreign minister Chen Yi.Friendship Award, State Administration of Foreign Experts Affairs (official website, in Chinese) On September 15, 1955, the Chinese government decreed that each departing Soviet expert be issued a medal.Evolution of the Friendship Award, China Weekly, November 30, 2009 (in Chinese) Thi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kiel Institute For The World Economy
The Kiel Institute for the World Economy (, or IfW Kiel) is an independent, non-profit economic research institute and think tank based in Kiel, Germany. In 2017, it was ranked as one of the top 50 most influential think tanks in the world and was also ranked in the top 15 in the world for economic policy specifically. The German business newspaper ''Handelsblatt'' referred to the institute as "Germany's most influential economic think tank", while ''Die Welt'' stated that "The best economists in the world are in Kiel" (). Founded in 1914, the institute is the oldest economic research institute in Germany. Its main areas of specialities include global economic research, economic policy, and economic education. The institute gave rise to the world's largest specialist library of economics and the social sciences, the German National Library of Economics, which has access to more than four million publications in printed or electronic format and subscriptions to over 30,000 perio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pico Mirandola
Giovanni Pico dei conti della Mirandola e della Concordia ( ; ; ; 24 February 146317 November 1494), known as Pico della Mirandola, was an Italian Renaissance nobleman and philosopher. He is famed for the events of 1486, when, at the age of 23, he proposed to defend 900 theses on religion, philosophy, natural philosophy, and magic against all comers, for which he wrote the ''Oration on the Dignity of Man'', which has been called the "Manifesto of the Renaissance", and a key text of Renaissance humanism and of what has been called the "Hermetic Reformation". He was the founder of the tradition of Christian Kabbalah, a key tenet of early modern Western esotericism. The ''900 Theses'' was the first printed book to be universally banned by the Church.Hanegraaff p. 54 Pico is sometimes seen as a proto-Protestant, because his 900 theses anticipated many Protestant views. Biography Family Giovanni was born at Mirandola, near Modena, the youngest son of Gianfrancesco I Pico, Lord ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chevalier De La Legion D'Honneur
The National Order of the Legion of Honour ( ), formerly the Imperial Order of the Legion of Honour (), is the highest and most prestigious French national order of merit, both military and civil. Currently consisting of five classes, it was originally established in 1802 by Napoleon Bonaparte, and it has been retained (with occasional slight alterations) by all later French governments and regimes. The order's motto is ' ("Honour and Fatherland"); its seat is the Palais de la Légion d'Honneur next to the Musée d'Orsay, on the left bank of the Seine in Paris. Since 1 February 2023, the Order's grand chancellor has been retired General François Lecointre, who succeeded fellow retired General Benoît Puga in office. The order is divided into five degrees of increasing distinction: ' (Knight), ' (Officer), ' (Commander), ' (Grand Officer) and ' (Grand Cross). History Consulate During the French Revolution, all of the French orders of chivalry were abolished and replaced w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
