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511: The Zombie Economics of Inflation and Unemployment (w/ Prof. Alex Salter)
Today's guest (Prof. Alex Salter) recently joined Phil Magness and wrote an article for The Hill outlining how bad economic ideas can have a frustratingly long shelf life. Amid surging consumer and producer prices, the apparent tradeoff between inflation and unemployment has become a hot topic.
There’s just one problem: the tradeoff doesn’t exist.
Economists have known this for 40 years. Policymakers and commentators asserting otherwise should get with the program.
"In policymaking circles - public economics commentators - (those sorts of positions), there persists this myth that there's a…
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