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The Phillips Curve Is an Economic Fable

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Tags InflationMonetary TheoryPraxeology

03/20/2023Frank Shostak

Keynesians and fellow travelers hold the Phillips curve to be sacrosanct. But because the Phillips curve cannot establish causality, it is useless as economic theory.

Original Article: "The Phillips Curve Is an Economic Fable"

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Original Article: 
The Phillips Curve Is an Economic Fable