Motley Fool: Shares Tips From A Nobel Prize Winner

Many congratulations to Professor Edmund Phelps for snapping up this year’s Nobel prize in economics. Along with Milton Friedman, Prof Phelps helped to show that governments cannot reduce unemployment below a natural rate by boosting demand. Curiously, no one knows precisely what the natural rate of unemployment is, though it is reckoned that 5% is a reasonable ball-park figure.