
Your Book Review: Cities And The Wealth Of Nations/The Question Of Separatism
Astral Codex Ten Podcast
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Cities and the Wealth of Nations
Cities and the Wealth of Nations opens on an economic mystery. It was the 1940s to 1960s, and economists thought they had it all figured out. The Phillips curve in particular became popular. Jacobs explains how each thinker had their own ideas of how the economy worked. Inflation and unemployment have an inverse relationship to each other - like a seesaw. High inflation comes with low unemployment, high unemployment comes with low inflation, or even deflation when prices drop.
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