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http://www.omniture.com --> Sections Home Page Local News AP News Archives Business Classifieds Event Calendar Forums Life Opinion Obituaries Photo Gallery Readers Photo Gallery Sports Tempo Weather Special Coverage 2006 Britt Festivals --> Shop Our Valley AutoFinder HomeFinder JobFinder Search Our Valley Special Sections Homelife Magazine Joy Magazine Readers Choice 2006 Oregon Golf Info Oregon Wine Info Our Valley Other Publications Local Links Ashland News eSouthernOregon Newspapers In Education Personals Moving Here Movie Listings TV Listings Volunteer Customer Service Advertise With Us Media Kit Place Classified Ad Contact Us FAQ's Home Delivery Site Map --> Email Story to a Friend October 10, 2006 American captures Nobel in economics By EILEEN ALT POWELL The Associated Press NEW YORK — An American economist who developed theories about unemployment that better capture how workers and companies actually make decisions about jobs has been named winner of the 2006 Nobel Memorial Prize in Economic Sciences. Edmund S. Phelps, 73, a professor at Columbia University in New York, was cited Monday for research into the relationship between inflation and unemployment, giving governments better tools to formulate economic policy. The Royal Swedish Academy of Sciences, which announced Phelps' selection in Stockholm, Sweden, said in its citation that "Phelps' work has fundamentally altered our views on how the macroeconomy operates." Americans have swept all the Nobels announced so far this year, with Phelps being the sixth named for one of the prestigious awards. The economics prize carries an award of $1.4 million. Two other Nobel prizes have yet to be announced — the winner of the prize for literature will be announced Thursday, followed by the Nobel Peace Prize on Friday. Advertisement Phelps told reporters in his New York apartment that he learned of the prize in a phone call from Sweden that woke him early in the morning. He said he had waited for the award for a long time, but wasn't expecting it this year. "I thought for a time I would get it in my 60s, then I thought I would get it in my 70s and, more recently, I've been thinking that I would get it in my 80s," he said. Phelps was born in Chicago and earned his bachelor's degree at Amherst College in Amherst, Mass., in 1955 and his Ph.D. at Yale University in 1959. He has been the McVickar professor of political economy at Columbia since 1982. Would you like to respond to this story? If so Click Here to visit our forums. Advertisement Copyright © 1997-2006 Mail Tribune, Inc. All rights reserved. Privacy Policy | Terms & Conditions | Website Feedback online casinos news Home Security Systems Windermere Van Vleet Men's Clothing Southern Oregon Loans --> GMAT Prep Fundraisers Send Flowers Texas Electric Choice Entertainment Guide --> Casinos Canada Trunks, Footlocker Online Casino Reviews Online poker at AbsolutePoker.com