The Phillips Curve
08/29/12 • 1 min
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Transcript -- The Phillips Curve
Transcript -- Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the rate of wage (and therefore price) inflation - but since his analysis became popular the relationship has changed.
Next Episode
Transcript -- The Paradox of Thrift
Transcript -- The Paradox of Thrift suggests that while it may be wise for an individual to save money when income is low and job prospects are precarious, it could be collectively disastrous if everyone is thrifty together.
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