Paul Ormerod Quote

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.

Part II, Chapter 6, Unemployment and Inflation, p. 130 - The Death of Economics (1994)

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate...

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate...

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate...

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate...