Comment on Josh Hendricks’ on ‘The Phillips Curve, Again’
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Josh Hendricks summarizes: “the Phillips Curve is something that people desperately want to believe in, despite the lack of evidence.”
Not so. The Phillips Curve has been messed up back in the 1960s by both pro- and anti-Keynesians. Thus it became one of the conspicuous landmarks of the cargo cult science economics. For the axiomatically correct Phillips Curve see:
Egmont Kakarot-Handtke