The Phillips Curve
Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the rate of wage (and therefore price) inflation - but since his analysis became popular the relationship has changed.
An episode of the 60-Second Adventures in Economics - for iPad/Mac/PC podcast, hosted by The Open University, titled "The Phillips Curve" was published on August 29, 2012 and runs 1 minutes.
August 29, 2012 ·1m · 60-Second Adventures in Economics - for iPad/Mac/PC
Summary
Bill Phillips' curve has historically been described as an inverse relationship between the rate of unemployment and the rate of wage (and therefore price) inflation - but since his analysis became popular the relationship has changed.