Bob provides a qualified defense of Larry Summers' recent claim that high unemployment will be necessary to contain price inflation.

Mentioned in the Episode and Other Links of Interest:

• The Summers interview featured in the audio clip. The Bloomberg article quoting Summers on how unemployment is necessary to fight inflation.
• Robert Lucas' Nobel Prize lecture that explains the Phillips Curve.
• The Jan 2022 debate between Krugman and Summers on inflation.
• Help support the Bob Murphy Show.

The audio production for this episode was provided by Podsworth Media.