Talk:Phillips curve
This is an old revision of this page, as edited by Ed Poor (talk | contribs) at 15:42, June 6, 2009. It may differ significantly from current revision.
- 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)