The 1970S

The decade the Phillips Curve died

Authored by: Arnold Kling

Routledge Handbook of Major Events in Economic History

Print publication date:  January  2013
Online publication date:  February  2013

Print ISBN: 9780415677035
eBook ISBN: 9780203067871
Adobe ISBN: 9781135080808


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The 1970s was a tumultuous decade for the American economy and for macroeconomic theory. The breakdown of one of the most important macroeconomic relationships, the unemployment-inflation trade-off known as the Phillips Curve, played a central role in the drama.

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