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Socialist Progressives

hfojvt

(37,573 posts)

2. the "stagnation" was in the unemployment rate

Reply to Warpy (Reply #1)

Fri May 8, 2015, 01:33 AM

May 2015

traditionally the trade-off was called the Phillip's curve. A curve that showed unemployment increasing while inflation decreased or inflation increasing while unemployment decreased. So presumably our economy could have low unemployment or low inflation but not both.

Except in the latter 1970s we sort of got both - of the worst. We had relatively high unemployment and high inflation, which the policy didn't know how to deal with.

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Paul Krugman is wrong about capitalism [View all] Starry Messenger May 2015 OP

The 60s saw 4% inflation, devastating to retirees living on fixed incomes Warpy May 2015 #1

the "stagnation" was in the unemployment rate hfojvt May 2015 #2

Almost immediately post World War II, we had the Korean War. merrily May 2015 #3

Re Paradise - TBF May 2015 #4

Yes. F4lconF16 May 2015 #6

Message auto-removed Name removed May 2015 #8

I agree with that. F4lconF16 May 2015 #9

"As long as you were white" AND male. spooky3 May 2015 #5

And a number of other qualifications. F4lconF16 May 2015 #7