01-16-2021, 03:13 AM
(01-15-2021, 09:52 PM)Warren Dew Wrote:(01-13-2021, 04:09 PM)David Horn Wrote: The sainted Phillips Curve is all but totally worthless
The Phillips Curve blew up in the 1970s. Anyone using it ten years ago was almost half a century out of date. Sheesh.
Perhaps Nixon taking us off the gold standard had something to do with it? This changed how the economy behaved significantly, and introduced the stagflation that dominated the 1970s.
That this nation, under God, shall have a new birth of freedom, and that government of the people, by the people, for the people shall not perish from the earth.