Ep. 62: There’s Nothing Wrong With the Phillips Curve!

It has become de rigeur in economics circles (word to the wise - always avoid such circles if you wish to retain your ability to think independently) to bemoan the death of the “Phillips Curve.” The Phillips Curve supposedly describes an inverse relationship between inflation and unemployment. "Supposedly”? In this succinct episode, the Inflation Guy explains why poor William Phillips' good name has been dragged through the mud unnecessarily. There is nothing wrong with his curve!

In this podcast, the Inflation Guy refers to a chart. It's hard to see charts on audio, so here is a link to the chart in case you want to follow along:

The Real Phillips Curve