> Here comes the superfluous mouth again.
>
> Prevailing economic theory holds that low wages are correlated with low
> unemployment; and high wages with high unemployment.
There is a lot of good criticism of the Philips curve. My favorite is in _Anti-Samuelson_ by Marc Linder. Other list members can probably provide more cites.
Superfluous mouths:
" The rent of these lands is very trifling compared to the extent, but compared to the number of mouths which a farm maintains, it will perhaps be found that a plot of land in the highlands of Scotland feeds ten times more people than a farm of the same extent in the richest provinces"--James Steuart cited in Karl Marx, Fred Engels. Articles on Britain Progress Publishers, Moscow 1971 p 146.
Sam Pawlett