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July 2021

  /    /  July (Page 9)

An economic concept which served as the linchpin for monetary and fiscal policy across the world is the Phillips Curve. Developed by the New Zealand economist A.W.H. Phillips, it puts forward an inverse relationship between inflation and unemployment.Phillips, while he

In many minds, "capitalism" has come to be a bad word, nor does "free enterprise" sound much better. I remember seeing posters in Russia in the early nineteen-thirties depicting capitalists as Frankenstein monsters, as men with yellow-green faces, crocodile teeth,