Leeson is also importance with respect to the Phillips curve. He claims that the concept was not important until 1959, when Kennedy was running for office. The Republicans warned that election of the Democrats could unleash intolerable inflation. Samuelson and Solow responded with their article which was to show how the Democrats could use economic analysis to target the correct mix of unemployment and inflation.
by the way, I'm still trying to get hold of Max Sawicky, since my e-mails to him to not seem to work. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
