trade-off between inflation and unemployment and were thereby led to advocate a policy of inflation.  It is argued here that …In his Nobel lecture, Friedman built on his earlier argument for a 'natural rate of unemployment' by painting a picture … question; and very few advocated inflation on bases vulnerable to Friedman's theoretical critique.  The Phillips curve was put …

Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic … context. In this perspective, it is much more important to explain why unemployment changes than to identify a presumed level … when maintaining that price and wage flexibility is not a cure for unemployment, and hence there is no unemployment …

Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic … context. In this perspective, it is much more important to explain why unemployment changes than to identify a presumed level … when maintaining that price and wage flexibility is not a cure for unemployment, and hence there is no unemployment …

Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic … context. In this perspective, it is much more important to explain why unemployment changes than to identify a presumed level … when maintaining that price and wage flexibility is not a cure for unemployment, and hence there is no unemployment …

the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor … rentiers' interest income in a money/debt-using and demand determined economy. The ultimate objective of this model is to …

the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor … rentiers’ interest income in a money/debt-using and demand determined economy. The ultimate objective of this model is to …

consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 … case for a money growth rule, and the expectations augmented Phillips curve are then taken up, followed by a discussion of …