Bill Phillips & His Curve
Debunking Economics - the podcast
00:00
Is Human Nature Driving the Economy?
If you've got a slow change in employment, then you're not going to push for an increase in wages. But if you get a big change, then your bargaining position gets better. And this is where human nature comes into all of this. We tend to be... We aggregate and therefore simple rules can give you this complex behavior. That's what comes out of the Minsky model of built and so on.
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