"Over the past few years living beyond the west, which has its own part of the overdraft future, " columbia universityprofessor edmund phelps said.

“西方过去几十年寅吃卯粮，因而已经透支了自己的部分未来，”哥伦比亚大学教授埃德蒙费尔普斯说。

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In these situations, a second theory, offered by Kenneth Arrow and Edmund Phelps in the early 1970s, is more useful.

ECONOMIST: Race, sex and the dismal science

Edmund Phelps, who came second with six of 60 entries in a pool of economists run by the author of this article, has made many important contributions to micro- and macroeconomics.

ECONOMIST: Nobel prize in economics

And Edmund Phelps won't have to go far to have a celebratory beer with his fellow 2006 Nobel Laureates because all the Nobel Prizewinners so far this year are Americans, as you may have heard.

NPR: Is the Nobel Sweep Over for Americans?