Thomas J. Sargent is one of the most influential economists of our time and is considered a co-founder of the New Classical Macroeconomics. He was awarded the Nobel Prize in Economics in 2011 and has been the first W.R. Berkley Professor of Economics at New York University since 2002. Tom Sargent has been a Senior Fellow of the Hoover Institution since 1987. Together with Christopher A. Sims, Thomas J. Sargent was awarded the Nobel Prize in Economics in 2011 for groundbreaking work on macroeconomics and pioneering research on rational expectations. A central part of Thomas J. Sargent’s research focuses on people’s decision-making motives and rational expectations. His thesis of policy ineffectiveness states that politically driven monetary and fiscal policy is predictable and therefore has no real influence on the economy.