By Robert Leeson
Almost all of latest macroeconomics is underpinned by means of a Phillips curve of 1 kind or one other, and this quantity collects for the 1st time the foremost works of 1 of the good economists. as well as twelve substantial items, twenty-nine economists together with Lawrence Klein, James Meade, Thomas Sargent, Peter Phillips, David Hendry, William Baumol, Richard Lipsey and Geoffrey Harcourt spotlight and interpret Phillips' ongoing effect. This quantity additionally includes six of Phillips' formerly unpublished essays, 4 of that have been lengthy proposal to were misplaced.
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Additional resources for A. W. H. Phillips: Collected Works in Contemporary Perspective
Perhaps he was working on the unpublished `Lucas Critique' essay, dated July 1972, that concludes this volume. Whatever the project, Professor Phillips obviously had no intention of letting his health interfere with his academic pursuits. 26 The Festschrift 27 We discussed some of my interests and the contemporary relevance of his stabilisation paper in the context of the then fashionable work on optimal control theory. I can remember his eyes ®xing intensely on me. This had the effect of making me do my best to talk sensibly as we discussed his work, economic issues generally, his students and his teaching duties at the University of Auckland.
Phillips had no tolerance for weak or faulty arguments but his leadership style did not involve confrontation and he was free of the taint of argumentum ad hominen: `To be his Colleague was to be his Friend' (Phelps Brown, chapter 3). This was the leadership style which both Dunlop and van der Post found to be successful during their wartime incarceration. 19 It was this frame of mind which he brought to macroeconomics and which so much impressed his colleagues: `Bill Phillips was, and indeed is, a hero to me' (correspondence from Chris Archibald).
I suspect it may have been Stone's interest that prompted Phillips' visit to Cambridge; the economics faculty as a whole was not particularly observant of what went on in their subject elsewhere in the world. The trouble with the Phillips Machine was its in¯ationary tendencies ± the national income demonstrated a strong propensity to over¯ow. Perhaps as the youngest and most recently arrived member of the faculty, Harry was frequently called out to deal with a monetary crisis in the shape of a pink cascade pouring down the stairway from the Department of Applied Economics.
A. W. H. Phillips: Collected Works in Contemporary Perspective by Robert Leeson