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Well, the 'failure' of the Phillips Curve to which Friedman attributed the 'failure' of Keynesian macro analysis occurred shortly AFTER the US went off the gold standard and in the face of import driven inflation in the price of oil in the '70s. So historically contingent conditions seem to hold the day vs immutable laws supposed to hold everywhere and always. Another stake through the vampire propagandist Milton Friedman.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Oct 28th, 2019 at 11:39:08 AM EST
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