“I grew up, until age 6, in Chicago. My parents rented their apartment and, at the end of the Depression, my parents wanted to replicate that situation. So, again, we lived in a somewhat suburban setting outside of New York City, and again, they rented.”

American economist

Edmund Strother Phelps is an American economist and Nobel laureate. He received the 2006 Nobel Memorial Prize in Economic Sciences. Phelps is best known for his work in economics, especially the research that led to his Nobel recognition. His writing and public remarks often reflect economic theory and the forces that shape markets, inflation, and employment.