The Wall Street Journal gets a prize for Art inwards Economics for their Phillips flexure article. Abstract expressionist division, non contemporary realism, alas.
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| Source: Wall Street Journal |
(For the uninitiated: There is supposed to travel a stable negatively sloped flexure hither past times which higher inflation comes amongst lower unemployment. Beyond that correlation, nearly policy economists read it equally crusade together with effect, higher unemployment begets lower inflation together with vice versa. The indicate of the article is how picayune reality conforms to that bedrock belief.)
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