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Thread: AOC 'nailed it' with questions to Fed chair

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    AOC 'nailed it' with questions to Fed chair

    AOC gets one right. She's one smart cookie.



    Phillips Curve

    The Phillips curve represents the relationship between the rate of inflation and the unemployment rate. Although he had precursors, A. W. H. Phillips’s study of wage inflation and unemployment in the United Kingdom from 1861 to 1957 is a milestone in the development of macroeconomics. Phillips found a consistent inverse relationship: when unemployment was high, wages increased slowly; when unemployment was low, wages rose rapidly...

    Of course, as that source explains, the Phillips Curve has been challenged as long ago as Edmund Phelps and Milton Friedman.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    donttread (08-03-2019)

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