This man predicted the stagflation of the late 1970s after noting instability in the relationship between inflation and unemployment.
This man predicted the stagflation of the late 1970s after noting instability in the relationship between inflation and unemployment. That relationship is known as the Phillips curve. Instead, this man argued for the existence of a "natural rate" of unemployment. This economist argued that fluctuations in the economy could be controlled by government intervention in the supply of money. He also served as economic advisor to Ronald Reagan. Winner of the 1976 Nobel Prize in economics and author of the textbook Capitalism and Freedom, for ten points, name this conservative economist who developed the theory of monetarism.
This man predicted the stagflation of the late 1970s after noting instability in the relationship between inflation and unemployment.
Milton {Friedman}