This relation was discovered by Irving Fisher in the 1920s, thirty-two years before its namesake published his work on it. The New Classical version of it was developed by Robert Lucas. Robert Solow and Paul Samuelson showed that this it applied to the United States. It was criticized by Edmund Phelps and Milton Friedman, who argued that it could not hold in the long run. This relation, which is similar to Okun's law, came under increasing attack in the 1970s due to stagflation. For 10 points, identify this curve in eco
This relation was discovered by Irving Fisher in the 1920s, thirty-two years before its namesake published his work on it. The New Classical version of it was developed by Robert Lucas. Robert Solow and Paul Samuelson showed that this it applied to the United States. It was criticized by Edmund Phelps and Milton Friedman, who argued that it could not hold in the long run. This relation, which is similar to Okun's law, came under increasing attack in the 1970s due to stagflation. For 10 points, identify this curve in economics that gives an inverse relationship between inflation and unemployment.
This relation was discovered by Irving Fisher in the 1920s, thirty-two years before its namesake published his work on it.
Phillips curve