ICYMI: 15 Winners of the Nobel Prize in Economics Say President Biden's Economic Agenda Will Grow Economy, Lower Costs

Distinguished economists write that President's plan will "ease longer-term inflationary pressures"

Today, 15 recipients of the Nobel Memorial Prize in Economic Sciences signed a letter in support of President's Biden's economic recovery agenda, which they argue will make "critical investments in human capital, the care economy, research and development, public education, and more, which will reduce families' costs."

They write: "While we all have different views on the particulars of various economic policies, we believe that key components of this broader agenda are critical—including tax reforms that make our tax system more equitable and that enable our system to raise the additional funds required to facilitate necessary public investments and achieve our collective goals. Because this agenda invests in long-term economic capacity and will enhance the ability of more Americans to participate productively in the economy, it will ease longer-term inflationary pressures."

Signees include:

• Joseph Stiglitz, Professor, Columbia University
• Peter Diamond, Professor, Massachusetts Institute of Technology
• Daniel Kahneman, Professor, Princeton University
• Oliver Hart, Professor, Harvard University
• Paul Romer, Professor, New York University
• Eric S. Maskin, Professor, Harvard University
• Edmund S. Phelps, Professor and Director of the Center on Capitalism and Society, Columbia University
• Robert Engle, Professor Emeritus and Co-Director of the Volatility and Risk Institute, New York University
• George A. Akerlof, Professor, Georgetown University
• Paul Milgrom, Professor, Stanford University
• Christopher Sims, Professor, Princeton University
• Sir Angus Deaton, Professor, Princeton University
• Robert Solow, Professor Emeritus, Massachusetts Institute of Technology
• Daniel McFadden, Professor, University of California, Berkley
• Roger Myerson, Professor, University of Chicago

Read the full letter here.