Why did Milton Friedman argue that the Phillips curve did not represent a permanent trade-off between unemployment

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Why did Milton Friedman argue that the Phillips curve did not represent a permanent trade-off between unemployment and inflation? In your answer, be sure to explain what Friedman meant by the "natural rate of unemployment."

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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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Question Posted: Nov 01, 2017 08:00 AM

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Why did Milton Friedman argue that the Phillips curve did not represent a permanent trade-off between unemployment

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Friedman argued that in the long run the unemployment rate would equal the natural rate ...View the full answer

Economics

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