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Remembering economist Robert Lucas. His theories revolutionized macroeconomics : The Indicator from Planet Money Nobel-winning economist Robert Lucas Jr. died on Monday. His revolutionary theories transformed the field of macroeconomics. His influential "Lucas critique" argued economic policy must take into account people's decisions in reaction to the policy itself, and just as importantly, their expectations. Not only is he remembered as a brilliant mind, but a supportive colleague as well. On today's episode, we remember Robert Lucas and his legacy.

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The Indicator from Planet Money

The man who busted the inflation-employment myth

The man who busted the inflation-employment myth

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Professor Robert Lucas (left) receiving the Nobel Prize in Economics in 1995. Lucas died earlier this week at age 85. Jack Mikrut/Scanpix Sweden / AFP via Getty Ima hide caption

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Jack Mikrut/Scanpix Sweden / AFP via Getty Ima

Professor Robert Lucas (left) receiving the Nobel Prize in Economics in 1995. Lucas died earlier this week at age 85.

Jack Mikrut/Scanpix Sweden / AFP via Getty Ima

Nobel-winning economist Robert Lucas Jr. died on Monday. His revolutionary theories transformed the field of macroeconomics. His influential "Lucas critique" argued economic policy must take into account people's decisions in reaction to the policy itself, and just as importantly, their expectations. Not only is he remembered as a brilliant mind, but a supportive colleague as well. On today's episode, we remember Robert Lucas and his legacy.


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For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.