THE RISE AND FALL AND FALL OF KEYNESIAN ECONOMICS

This paper examines the argument that Professor Blinder presented to t he Bicentennial Australian Conference of Economists, that the Phillips curve is 'alive and well'. it is argued below that Blinder's conclusi on is, at best, unproven. It also highlights The Keynesian Recovery, o utlined by Howitt and others, which has not resurrected the trade-off interpretation of Phillips's work.