Robert Gordon proposed a triangle model of this phenomenon that includes Paul Samuelson's "cost-push" theory, as well as the "demand-pull" type.
Robert Gordon proposed a triangle model of this phenomenon that includes Paul Samuelson's "cost-push" theory, as well as the "demand-pull" type. As Fed Chairman, Paul Volcker famously raised interest rates to control this phenomenon. Graphed on the Phillips curve against (*) unemployment and measured by changes in the Consumer Price Index, name this economic phenomenon, the devaluing of money as prices rise, which combines with unemployment in stagflation.
Robert Gordon proposed a triangle model of this phenomenon that includes Paul Samuelson's "cost-push" theory, as well as the "demand-pull" type.
{inflation}