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Season 6 Episode 1 - A W "Bill" Phillips

Economics In Ten

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The Return to Keynesianism

Friedman predicted stagflation of the mid-70s. It killed off idea that you could use demand side policy to fine-tune economy. You could almost argue there's been a return to Keynesianism following financial crisis in middle of major recession. And now stagflation might kill it again. Who knows? Stegflation, okay. We've got time now, Gav. If we get our skates on the lead time, it's to get things right before Christmas. I forget those crap games you play after Christmas meal.

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