Recently, good news came that Edmund S. Phelps, the Dean of Newhuadu Business School, won 2014 National Friendship Award of P.R. China and received the award from Premier Li Keqiang in Beijing on October 1, the National Day of China. Mr. Phelps said, “I am glad to win the National Friendship Award of China, a great honor to me. Please allow me to express thanks to Newhuadu Business School, by which I got the opportunity to travel around China, better understand Chinese economy, and luckily receive the award in a country I love.”
Dr. Phelps is the professor of Columbia University, Founder of Modern Macroeconomics” and “one of the most important persons influencing the progress of economics”. As his most important contribution, “Phelps’ Golden Rule” has set the economic growth theory. In 2006, Edmund S. Phelps was awarded the Nobel Prize in Economics for macroeconomic inter-temporal decision-making and trade-offs”.
Not just in 2014, Phelps, the Dean, has made great contribution to Sino-U.S. friendship. As the dean of Newhuadu Business School upon its inception, Edmund S. Phelps was invited by the donor, Mr. Chen Fashu, and Minjiang University to work as the dean of Newhuadu Business School in April 4, 2010. So far, he has held the position for four years. During the period, he contributed his research achievement, the Great Significance of Innovation to Economic Development and Great Social Prosperity, to Newhuadu Business School, fully injected innovative thinking and spirit to the gene of Newhuadu Business School, led Newhuadu Business School to make comprehensive innovation from governing pattern to running position, teaching pattern, etc., and helped the School to achieve extraordinary development. During the four short years, Newhuadu Business School has carried out many levels of education programs including undergraduate, MBA in Entrepreneurship, EMBA in Entrepreneurship, high-end training, etc. Under his domination and promotion, the School registered a business school in 2013 as the first Chinese independent overseas education institution. It generally takes a common business school 10 years to complete these education programs, but it took Newhuadu Business School only four years.
In addition, Dean Phelps also established the platform for dialogue between China and the world together with the members of the Center on Capitalism and Society at Colombia University, the U.S., and his Chinese colleagues. He successfully planned and held two China summits of Nobel Prize Winners in Economists. Personally invited by him, every new Nobel Prize Winner each year participated in the summit. The platform also gathers other top economists from both home and abroad to discuss about major economic issues in China and the world.
The contribution of Dean Phelps to China is not limited to Newhuadu Business School. He has participated in Boao Forum for Asia for many times to provide suggestions to economic development both in China and the world; held interview dozens of Chinese media, and provided suggestions and advice against China’s economic and social problems with the past experience of the western countries as a reference; held lectures at Peking University, Tsinghua University and other well-known universities; preached to entrepreneurs in many Chinese cities; held dialogues with Chinese young scholars and entrepreneurs; visited Chinese enterprises.
The old man at nearly 80 has contributed the most energy and time to Newhuadu Business School, China’s business education and China’s economic activities. He constantly expresses that as an economic scholar he has participated in and witnessed the boom of the U.S. economic development, and he is glad to participate in the rapid economic development of China. As a result, in China he always does his best to make every work perfect. Based on personal experience in China, Dean Phelps always has the horizontal comparison between the Chinese and western economies as reference. So, his research is more objective, profound and world-oriented.
Dean Phelps deserves the National Friendship Award issued by the Chinese Government.