A. J. BROWN, “PHILLIPS’S CURVE,” AND ECONOMIC NETWORKS IN THE 1950S

Author:

Button Kenneth

Abstract

This paper examines the role of the English economist Arthur (A. J.) Brown in the 1950s debate surrounding the wage-rate change/unemployment relationship. While the publication of William (Bill) Phillips’s 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 have received much less. Here, the focus is on redressing this situation somewhat by looking at Brown’s work to see how much it predates Phillips’s paper, and what differences there are to it. We also consider this within the changing institutional structure of English economic networks in the 1950s that led to a relatively rapid acceptance of Phillips’s analysis and, in many cases, to a strong, ordinal interpretation of the Phillips Curve that overshadowed Brown’s work.

Publisher

Cambridge University Press (CUP)

Subject

History and Philosophy of Science,General Economics, Econometrics and Finance,General Arts and Humanities

Reference95 articles.

1. The History of the Phillips Curve: Consensus and Bifurcation

2. “Review of ‘The Great Inflation 1939–1951.’”;Gurley;American Economic Review,1956

3. “American Economic Review.”;Goldberg;American Economic Review: Papers and Proceedings,2015

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1. A. J. Brown and the US Phillips Curve: A Comment;History of Economics Review;2021-08-18

2. DATA REDUCTION BY THE HAAR FUNCTION: A CASE STUDY OF THE PHILLIPS CURVE;Macroeconomic Dynamics;2021-05-24

3. List of publications on the economic and social history of Great Britain and Ireland published in 2018;The Economic History Review;2019-10-14

4. Book reviews;HISTORY OF ECONOMIC THOUGHT AND POLICY;2019-01

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