Bob provides a qualified defense of Larry Summers’ recent claim that high unemployment will be necessary to contain price inflation.
Mentioned in the Episode and Other Links of Interest:
- The Summers interview featured in the audio clip. The Bloomberg article quoting Summers on how unemployment is necessary to fight inflation.
- Robert Lucas’ Nobel Prize lecture that explains the Phillips Curve.
- The Jan 2022 debate between Krugman and Summers on inflation.
- Help support the Bob Murphy Show.
The audio production for this episode was provided by Podsworth Media.