Ep. 245 Cutting Larry Summers Some Slack on His Labor Market Remarks
Bob Murphy Show
00:00
The Trade Off Between Unemployment and Inflation
In the fifties and sixtis, macro economist fine tuners predicted stag flation would not happen. And then that all went out the window in the seventies when we had high unemployment rates and high price inflation. So it's not set an so yes, in the short run there is this trade off between unemployment and inflation. But the curve itself moves overtime.
Transcript
Play full episode
