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Monday, October 9th 2006

Americans Crush Opposition…Win Another Noble Prize

It’s like a steam roller this year. Of the six Noble prizes anounced so far this year, all six have gone to Americans. Including the most recent prize, that for economics.

American Edmund S. Phelps won the 2006 Nobel Memorial Prize in Economic Sciences on Monday for furthering the understanding of the trade-offs between inflation and its effects on unemployment.

He is the sixth American to win a Nobel Prize this year, meaning every prize save for the literature and peace prizes, which have not yet been announced, have gone to Americans.

In his research the 73-year-old Columbia University professor showed how low inflation today leads to expectations of low inflation in the future, thereby influencing future policy decision making by corporate and government leaders.

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