Edmund Phelps:

This week Edmund Phelps was awarded the Nobel Prize in Economics "for his analysis of intertemporal tradeoffs in macroeconomic policy." Tyler Cowen comments here. Not coincidentally, Phelps had an article in yesterday's Wall Street Journal on entrepreneurship in the U.S. and Europe, available here.

UPDATE: Virginia Postrel explains why she's excited about Phelps' Nobel here.

There is a third type of capitalism, Japanese.
10.11.2006 12:25pm
Hans Bader:
He's a big critic of the terribly burdensome and wasteful Sarbanes-Oxley law, which has created a legion of red tape for law-abiding businesses, while doing little to prevent real corporate fraud, and adversely affected American competitiveness compared to other countries and securities markets.

That speaks volumes about the wastefulness of the Sarbanes-Oxley law, since Phelps is not a conservative or libertarian. He opposed the Bush tax cuts, for example.
10.11.2006 12:53pm