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A. William Phillips, 1914-1975

Alban William Housego Phillips (known commonly simply as "A.W." or "Bill" Phillips) is the man whose name is attached the most famous curve in post-war economics - the "Phillips Curve", positing a relationship between inflation rate and the unemployment rate.

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The relationship Phillips discovered in his famous 1958 paper was not posited as a theoretical relationship but it was suggestive enough. Phillips's original study outlined the relationship between wage changes and unemployment between 1861 and 1957. His analysis actually dealt with finding cyclical movements in unemployment and wage growth.

The 1861-1913 period gave him a counter-clockwise movement around a certain level of wage growth and unemployment, the 1948-1957 period, yielded a clockwise trajectory while the intermediate period (1918-39), had alternating cycles: clockwise, 1918-21; counter-clockwise, 1921-25; clockwise 1926-33; and counter-clockwise 19 HET: A.W.

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