NPR - WBUR - On
Point
17 October 2006
The 2006 winner of the Nobel Prize for Economics, American Edmund Phelps, wasted no time in speaking his mind after the honors were announced in Stockholm last week.
The next day he was in print celebrating the dynamism and innovation of American capitalism. Not that it's perfect, he said, but it sure beats Europe's social market economy, class rigidity, and high unemployment.
So, hooray for the joy of capitalism.
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