Where the words come from
The Phillips curve, its discovery in British data, its use as a policy menu, stagflation and the curve's instability — Principles of Economics 2e, OpenStax, licensed CC BY 4.0. https://openstax.org/books/principles-economics-2e/pages/25-3-the-phillips-curve. Changes: the US Work It Out exercise dropped; "tradeoff" to trade-off; the point-A and point-B figures dropped; DEPARTS FROM 2e: 2e says Phillips analysed "60 years of British data" and found a trade-off between unemployment and inflation; corrected to his 1958 finding on money-wage growth using British data for 1861 to 1957, with the restatement in terms of price inflation made explicit; British spelling.
The Keynesian, intermediate and neoclassical zones of aggregate supply, and the two schools' views of where economies usually are — Principles of Economics 2e, OpenStax, licensed CC BY 4.0. https://openstax.org/books/principles-economics-2e/pages/24-6-keynes-law-and-says-law-in-the-ad-as-model. Changes: the zones described without the figure; condensed.
The vertical long-run Phillips curve and Milton Friedman's 1967 summary of it — Principles of Economics 2e, OpenStax, licensed CC BY 4.0. https://openstax.org/books/principles-economics-2e/pages/26-2-the-policy-implications-of-the-neoclassical-perspective. Changes: the Friedman quotation given in indirect speech; the 5 per cent natural-rate illustration dropped.
Why a trade deficit tends to accompany rapid growth, and the nineteenth-century US case of deficits alongside growth — Principles of Economics 2e, OpenStax, licensed CC BY 4.0. https://openstax.org/books/principles-economics-2e/pages/23-4-the-national-saving-and-investment-identity and https://openstax.org/books/principles-economics-2e/pages/23-5-the-pros-and-cons-of-trade-deficits-and-surpluses. Changes: the US mid-2000s and 2006-2009 figures dropped and the pattern kept; the nineteenth-century case condensed; the Latin American counter-case from 23.5 added.
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