In most Western economies, the general relationship is not … - Paul Ormerod

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In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.

Paul Ormerod

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About Paul Ormerod

Paul Ormerod (born in 1969) is a British economist who is researching complexity, complex systems, nonlinear feedback, the boom and bust cycle of business and economic competition. Ormerod uses a multidisciplinary approach, making use of biology, physics, mathematics, statistics and psychology as sources of results that can be applied to economics.

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At 2 per cent growth a year, an economy doubles in size in just thirty years.

The study of human societies and economics is of great importance, and it is not the purpose of the book to suggest otherwise. Rather it is to argue that conventional economics offers a very misleading view of how the world actually operates, and that it needs to be replaced.

We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of thinking about the economy is to imagine it as a living organism.

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate … - Paul Ormerod

About Paul Ormerod

Additional quotes by Paul Ormerod