By Robert Leeson

Nearly all of latest macroeconomics is underpinned via a Phillips curve of 1 kind or one other, and this quantity collects for the 1st time the foremost works of 1 of the good economists. as well as twelve noticeable items, twenty-nine economists together with Lawrence Klein, James Meade, Thomas Sargent, Peter Phillips, David Hendry, William Baumol, Richard Lipsey and Geoffrey Harcourt spotlight and interpret Phillips' ongoing impression. This quantity additionally comprises six of Phillips' formerly unpublished essays, 4 of that have been lengthy inspiration to were misplaced.

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Extra resources for A. W. H. Phillips: Collected Works in Contemporary Perspective

Sample text

He assured me that Bill would be only too willing and undertook to ask. The reply was positive. Although I was aware of Professor Phillips' academic contributions, and brief biography from the expatriates section of An Encyclopedia of New Zealand (McLintock 1966), I knew nothing about his personality. Would he really be welcoming, pleasant and encouraging? After all, some famous people can be dif®cult. I need not have worried. I was welcomed warmly and we went in to his study. Numerous issues of Econometrica were open on his desk.

In their impoverished state they cannot resist tobacco which they are allowed to keep after wholesale smacking. Today saw about one dozen lined up and struck a heavy slap in the face with a slab of wood . . one wonders if there will be any ear drums left intact. Phillips carried permanently the legacy of his incarceration. It is highly probable that his addiction to untipped cigarettes was a signi®cant contributing factor in his deteriorating health and diminished research output in the 1960s, in his major stroke in 1969, and, in the end, in his premature death.

I am privileged to possess that paper which is in Bill's own typing, and is the only copy. It was given to me by Bill as a memento. Before taking the story further I will summarise the paper. It is entitled `Saving and Investment: Rate of Interest and Level of Income'. The ®rst section deals with commodities, the title being 31 32 Walter Newlyn `Stocks and Flows of Commodities: Price'. It is concerned with the analysis of any market `where stocks are held from investment or speculative motives'.

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