Comment on Josh Hendricks’ on ‘The Phillips Curve, Again’
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:
This blog connects to the AXEC Project which applies a superior method of economic analysis. The following comments have been posted on selected blogs as catalysts for the ongoing Paradigm Shift. The comments are brought together here for information. The full debates are directly accessible via the Blog-References. Scrap the lot and start again―that is what a Paradigm Shift is all about. Time to make economics a science.