Source: Continuous Improvement Associates

Social Issues
Fed Policy, NAIRU, and the "Phillips Curve"
By Bob Powell, 2/16/06

Here are papers that explain the flaws in the "Phillips Curve" theory and in the concept of NAIRU (Non Accelerating Inflation Rate of Unemployment). 

Articles from The American Prospect, Mar-Apr 1996:
Lester Thurow, The Crusade That's Killing Prosperity
James K. Galbraith, The Surrender of Economic Policy

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