July 1986
Volume 36, 1986FEATURES
Perspective: Essay Contest Winners
JUNE 01, 1986
The Fallacy of Comparable Worth
JUNE 01, 1986 by PETER S. HEINECKE
Educational Freedom
AUGUST 01, 1975 by SCOTT W. BIXLER
An educational alternative consistent with the principles of a free society.
Its Not Our Money
JUNE 01, 1986 by JAMES L. PAYNE
Deregulation of the Natural Gas Industry
JUNE 01, 1986 by J. D. STEELMAN JR.
Why Regulators Can't Regulate Effectively
JUNE 01, 1986 by E.C. PASOUR
Inflation and Unemployment
JUNE 01, 1986 by HANS SENNHOLZ
Keynesian economics postulates a definite relationship between unemployment and inflation. Goods prices remain stable, according to Keynesian theory, as long as there is some unemployment. Inflation raises its head only beyond the full employment mark when demand exceeds supply and no idle resources are available to increase output (demand-pull inflation). The relationship is said to be illustrated by the Phillips curve named after A. W. Phillips, a British economist.




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