Ep. 132 The Phillips Curve and Keynesian La-La Land: The Alleged Relationship Between Unemployment and Inflation

31 March 2018     |     Tom Woods     |     10

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)

Contra Columns

“‘Monetary Neutrality,” by Robert E. Lucas, Jr.
Empire of the Institute,” by Paul Krugman

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