Reasonable Expectations

Too overworked to think up any grand testimonial to the newest Nobel economist. But as a one-time Econ major, I'll simply say that Edmund Phelps' award is certainly well-deserved. On the one hand, while folks like the WSJ will love his case for capitalism, us fiscally responsible types love seeing such gems as this one. Congrats Dr. Phelps. Spend the money wisely.