Abstract
Professor Phillips has argued that there is a significant relation observable between the level of unemployment and the rate of change of money wage rates in the United Kingdom over the years1861-19571. Mr. Kaldor, while believing that Phillips, . . has established the existence of these relationships , does not believe that the figures, .... support the particular inference which he [Phillips] draws from them. .. .2 Kaldor goes on to state, 1 think his figures are perfectly compatible with the alternative theory-indeed, I am prepared to argue that they provide a better support for that theory than for his own Mr. Kaldor states this alternative theory as follows
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
