Mathematics and The Phillips Curve
There are at least two different mathematical derivations of the Phillips curve. First, there is the traditional or Keynesian version. Then, there is the new Classical version associated with Robert E. Lucas, Jr..
Read more about this topic: Phillips Curve
Famous quotes containing the words mathematics, phillips and/or curve:
“Why does man freeze to death trying to reach the North Pole? Why does man drive himself to suffer the steam and heat of the Amazon? Why does he stagger his mind with the mathematics of the sky? Once the question mark has arisen in the human brain the answer must be found, if it takes a hundred years. A thousand years.”
—Walter Reisch (1903–1963)
“Happy the Man, who void of Cares and Strife,
In Silken, or in Leathern Purse retains
A Splendid Shilling: He nor hears with Pain
New Oysters cry’d, nor sighs for chearful Ale;”
—John Phillips (1676–1709)
“And out again I curve and flow
To join the brimming river,
For men may come and men may go,
But I go on forever.”
—Alfred Tennyson (1809–1892)