Thursday, January 11, 2018

David P. Goldman — There ain’t-a no Phillipsy Curve, once again

If we get inflation, it could be minus wage pressure across the board but only in places were the labor supply is short. Ordinary workers may not see much relief in the expansion, replicating their situation in the long and slow recovery period, owing to structural shifts in the economy — downsizing, offshoring, automation and robotics, etc.

Asia Times
There ain’t-a no Phillipsy Curve, once again
David P. Goldman

1 comment:

AXEC / E.K-H said...


The Bastard Phillips Curve is proto-scientific crap since the 1960s. For the axiomatically correct Phillips Curve see NAIRU, wage-led growth, and Samuelson’s Dyscalculia

Egmont Kakarot-Handtke