- Phillips found a consistent inverse relationship: when unemployment was high, wages increased slowly; when unemployment was low, wages rose rapidly. Phillips conjectured that the lower the unemployment rate, the tighter the labor market and, therefore, the faster firms must raise wages to attract scarce labor. Library of Economics and Liberty
This seems to be talking more about wages than about prices. I suspect the original article was made be someone who either did not understand economics, or who was deliberately adding erroneous information. (I'd be glad to be proved wrong, though.) --Ed Poor Talk 11:42, 6 June 2009 (EDT)
- I've reverted the page to my most recent edit, pending a more thorough discussion of what precisely ought to be revised. I have sought to write (or rewrite) all of the economics articles to be comprehensible to first-year students of economics, though not always necessarily to the average reader. As Conservapedia bills itself as an educational resource, I surmise that those who will be frequenting the econ pages with the greatest regularity are students who will have some grounding in the subject.
- In the event that they do not, I have aimed to create as many links within the text as possible for added clarification. If there is a specific issue with a certain concept not being addressed elswhere on Conservapedia, I'd be happy to address it. For now, however, I see no substantial problems with the article as is. --Economist 15:54, 11 June 2009 (EDT)