Ep. 132 The Phillips Curve and Keynesian La-La Land: The Alleged Relationship Between Unemployment and Inflation
Krugman insists on the validity of the Phillips Curve, which purports to show an inverse relationship between unemployment and inflation, but the causal mechanism Krugman sees between them is straight out of Keynesian la-la land.
Krugman Blog Post
“Immaculate Inflation Strikes Again (Wonkish)” (March 27, 2018)
The Contra Cruise!
Join Bob, Tom, and special guests for the third Contra Cruise — the best liberty week of the year!