Season 6 Episode 1 - A W "Bill" Phillips
Economics In Ten
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The Phillips Curve
The key idea that he's most associated with is probably one of the simplest ideas we've covered in any of our podcasts, which is a Phillips curve. It's something we cover in A-level economics and it illustrates a trade-off between those two variables as unemployment falls and money wages seem to increase. He talks about when he's listened to English people speak, he says, what's wrong with you guys? You know, we have to really listen to you to read between the lines to understand what you're trying to say. And it's like, there's no it's all graces. There's a good thing as well.
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