UNITED KINGDOM – OCTOBER 17: Upper detail of Phillip’s Economic Computer, the machine conceived by … [+] Bill Phillips (1914-1975), a New Zealand-born engineer turned economist. Phil...
Tag: Phillips Curve
A Change In Philosophy At The Fed Is Long Overdue – Part Two
Federal Reserve Chair Janet Yellen, center, Stanley Fischer, left, vice chairman of the Board of … [+] Governors of the Federal Reserve System, and Bill Dudley, the president of the Federal Rese...
Scoring The Inflation Debate
Over the past year, there has been a deluge of commentary about “inflation.” This has included my recent book coauthored with Steve Forbes and Elizabeth Ames, appropriately titled: Inflation. In that ...
Despite What Economists Believe, Putting People Out of Work Does Not Reduce ‘Inflation’
Recently the New York TimesNYT reported on the ShotMaster Pro, a remarkable piece of machinery that can make eight different espressos at a time, or 700 per hour. The cost of this modern “robot” is $5...