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The Philips Curve Is a Tool for Waging Class War on Workers
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Jacobin
The Philips Curve Is a Tool for Waging Class War on Workers
For nearly three-quarters of a century, central banks and policymakers have relied on the Phillips curve: the idea that inflation can be kept in check by disciplining worker power and putting restraints on employment levels. In 2026, does that theory, and the depoliticization of monetary policy that accompanies it, still make sense? Perhaps the real question isn’t whether every inflation spike has the same cause and …
12 Oct, 11:30
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