Milton Friedman's 1968 presidential address to the American Economic Association, which argued that a stable Phillips Curve trade-off cannot persist because workers and firms adjust their expectations of inflation, so any unemployment gain from inflating the economy is temporary and unemployment reverts to a natural rate.
Facts
Source TypeJournal Article
Sources
The Role of Monetary Policy
Claims Backed By This Source (11 claims)
This source backs 11 claims across the atlas. As facts: 6 well-attested. As cited relationships: 1 connected, 2 critiqued Here. Plus 2 entities citing it as a general reference with no single fact or relationship attached.
Disposition By Topic
- Articles, 7 claims: 4 well-attested, 1 connected, 2 general references.
- Concepts, 2 claims: 2 critiqued Here.
- Sources, 2 claims: 2 well-attested.
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