The Phillips’ Jumble

by Don Boudreaux on June 20, 2011

in Data, Inflation, Myths and Fallacies, Scientism, State of Macro, Work

Does this plot of data from 1948 through 2010 suggest that mild doses of inflation promote job creation? (From Renee Courtois Haltom, “What Drives Changes in Economic Thought?” Region Focus, First Quarter 2011 [Federal Reserve Bank of Richmond]; this graph is on page 14.)


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