https://archive.freecapitalists.org:443/forums/5.aspxenCommunityServer 2008.5 SP2 (Build: 40407.4157)https://archive.freecapitalists.org:443/forums/thread/416305.aspxMon, 25 Apr 2011 05:31:55 GMT944abf2b-d1be-4bf2-990d-438cb0e377e9:416305resist2727270https://archive.freecapitalists.org:443/forums/thread/416305.aspxhttps://archive.freecapitalists.org:443/forums/commentrss.aspx?SectionID=5&PostID=416305<p> It rarely ever held up to evidence.&nbsp; Even less so after the 60&#39;s.</p><div style="clear:both;"></div>https://archive.freecapitalists.org:443/forums/thread/416300.aspxMon, 25 Apr 2011 04:31:54 GMT944abf2b-d1be-4bf2-990d-438cb0e377e9:416300Mike McComb0https://archive.freecapitalists.org:443/forums/thread/416300.aspxhttps://archive.freecapitalists.org:443/forums/commentrss.aspx?SectionID=5&PostID=416300<p> &nbsp; In Gregory Mankiw&#39;s Principles of Economics he states &quot;society faces a short-run tradeoff between inflation and unemployment&quot;.&nbsp; He then goes on to&nbsp; explain a little about the Phillips Curve.&nbsp; Obviously he denies that the Phillips Curve exists in any long-run fashion, but does adamantly state that a short-run tradeoff between unemployment and inflation exist, because inflation will temporarily boost &quot;aggregate demand&quot;.&nbsp; I fully understand the argument about the Phillips Curve in the long-run, but what is the Austrian view of this supposed short-run inflation/unemployment phenomena?</p><div style="clear:both;"></div>