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Journal of the History of Economic Thought Preprints - A.J. Brown, 'Phillips’ Curve', and Economic Networks in the 1950s​

Kenneth John Button

No ypnq7, SocArXiv from Center for Open Science

Abstract: This paper is concerned with examining the role of the English economist Arthur (A.J.) Brown in the 1950s debate surrounding the wage-change unemployment relationship. While the publication of William (Bill) Phillips’ 1958 paper, and the subsequent moniker of the “Phillips Curve” attracted a wealth of attention, Brown’s book on the subject, The Great Inflation, and his later work on inflation, has received much less. Here the focus is on redressing somewhat this situation by looking at Brown’s work to see how much it predates Phillips’ paper, and what differences there are to it. We also considers this within the changing institutional structure of English economic networks in the 1950s that led to a relatively rapid acceptance of Phillips’ analysis, and in many cases, to a strong, ordinal interpretation of the Phillips Curve that overshadowed Brown’s work.

Date: 2017-10-25
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DOI: 10.31219/

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