NPR (Alex Mayyasi) - How Bill Phillips used flowing water to model the economy
Bill Phillips was an outsider to economics, but he used a machine and a chart to change the way we think about the government's role in a capitalist economy.
)Open
Bill Phillips was an outsider to economics, but he used a machine and a chart to change the way we think about the government's role in a capitalist economy.
)Open
He and Thomas J. Sargent shared the prize in 2011 for devising statistical tools to help guide economic policymakers.
Without the mathematical model that she helped refine, “the extraordinary positioning, navigation, and timing accuracy of GPS would be impossible to achieve.”