The relationship between inflation and unemployment was first studied by Irving Fisher in 1926.
But the “Phillips curve”, as it came to be known, owes its name to a study in 1958 by William Phillips of the London School of Economics.
但是，作为它后来为人所熟知的“菲利普斯曲线”(Phillips curve)，却是得名于伦敦政治经济学院的威廉·菲利普斯(William Phillips of the London School of Economics)在1958年进行的一项研究。
In his study, Phillips traced the relationship between unemployment and wage growth in Britain over the course of almost a century.
He found that from 1861 to 1957 the relationship had been pretty stable: the lower the unemployment rate, the faster wages rose.
This was remarkable, given the changes over that period in workers' rights.
In 1861 most workers could not vote; by 1957 the post-war Labour government had nationalised much of the economy.
Paul Samuelson and Robert Solow, two other economic luminaries, subsequently investigated the relationship in America, and reported that there was no such stability there.
随后，另外两位经济学泰斗——保罗·萨缪尔森(Paul Samuelson)和罗伯特·索洛(Robert Solow)调查了这种关系在美国的情况。他们在报告中称，那里没有这种稳定性。
The Phillips curve shifted around.
But in any given era, Samuelson and Solow wrote, “wage rates do tend to rise when the labour market is tight, and the tighter the faster.”
They described the relationship as a “menu”, encouraging the idea that the job of Keynesian policymakers was to pick a point on the curve that best aligned with their preferences.
How low unemployment could fall, in other words, depended only on what level of inflation was tolerable (for rising wages would surely end up lifting prices, too).
It is unclear whether policymakers actually thought of the relationship between inflation and unemployment as a menu.
But the idea was prominent enough by the late 1960s to attract withering criticism.
Its two main detractors, Edmund Phelps and Milton Friedman, would each go on to win a Nobel prize.
它的两为主要的批评者——埃德蒙·菲尔普斯(Edmund Phelps)和米尔顿·弗里德曼(Milton Friedman)——每一个人都会继而获得一次诺贝尔奖。