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Published: 22 February 2018

320 Pages


ISBN: 9780198819875

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Macroeconomics and the Phillips Curve Myth

James Forder

Oxford Studies in the History of Economics

  • Offers a radical reinterpretation of the practical macroeconomics of the Keynesian period
  • Detailed attention to what was actually said about the Phillips curve
  • Corrects the historical record on the dating of crucial developments of economic theory, including the idea of an inflation-unemployment tradeoff, and the expectations argument usually attributed to Friedman and Phelps
  • Synthesizes then-prevalent arguments on inflation and related matters into a coherent picture
  • Reassesses the role of Milton Friedman in the development of macroeconomics in the second half of the twentieth century