Challenging the theories of John Maynard Keynes, he questioned the idea that government intervention could help steer the economy.
Category: Nobel Prizes
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Edward C. Prescott, 81, Dies; Won Nobel for Studying Business Cycles
The New York Times – Business:He was among the leading thinkers to explain the economic shocks of the 1970s, and his work was critical to the supply-side economics of the ’80s.