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In economics, the Phillips curve is well known. The Phillips curve specifies that there is a short-run tradeoff between unemployment and inflation. Thus, tryin
by LUmBULtERA 4y ago
In economics, the Phillips curve is well known. The Phillips curve specifies that there is a short-run tradeoff between unemployment and inflation. Thus, trying to tamp down inflation in the short-run would inevitably increase some unemployment.
- mrtesthah 4y agoEvidence that the Phillips Curve has never been true, even in the 1970s: https://paulkrugman.substack.com/p/stagflation-revisited https://paulkrugman.substack.com/p/stagflation-revisited