Problems from Nike

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So this was truly a prediction rather than an attempt to explain the past. In the 1970s, however, persistent inflation provided a test of the Friedman-Phelps hypothesis. Sure enough, the historical correlation between inflation and unemployment broke down in just the way Friedman and Phelps had predicted: in the 1970s, as the inflation rate rose into double digits, the unemployment rate was as high or higher than in the stable-price years of the 1950s and 1960s. Inflation was eventually brought under control in the 1980s, but only after a painful period of extremely high unemployment, the worst since the Great Depression.

By predicting the phenomenon of stagflation in advance, Friedman and Phelps achieved one of the great triumphs of postwar economics. 然而,在 1970 年代,持续通胀提供了弗里德曼菲尔普斯假设检验。果然,弗里德曼和菲尔普斯曾预测的方式打破通货膨胀与失业之间的历史相关性: 七十年代,随着通货膨胀率上升到两位数的失业率是为高或较高年稳定价格 1950 年代和 1960 年代。八十年代,但只经过了痛苦极高的失业率,自大萧条以来最严重的通货膨胀最终得到了控制。通过提前预测的滞胀现象,弗里德曼和菲尔普斯实现战后经济学的伟大的胜利之一。

, the California electricity crisis of 2000– 2001—in which power companies and energy traders created an artificial shortage to drive up prices—reminded us of the reality that lay behind tales of the robber barons and their depredations. While other states didn’t suffer as severely as California, across the nation electricity deregulation led to higher, not lower, prices, with huge windfall profits for power companies. 2000 – 2001年的加州电力危机 — — 在哪些电源公司和能源交易商创建人工短缺,从而推高价格 — — 提醒我们对现实的背后是强盗贵族和他们的掠夺行为的故事。虽然其他国家没有遭受放松作为其严重程度与加利福尼亚州跨全国电力管制导致较高、 不降低价格,与电力公司的暴利。 To conclude that deregulation is always and everywhere a bad idea would be to engage in the same kind of absolutist thinking that was, arguably, Milton Friedman’s greatest flaw. 结束放松管制总是和到处都是一个糟糕的想法将从事相同种系谱思考的是,可以说,米尔顿 · 弗里德曼最大的缺点。

“Footwear mogul Nike is still dealing with the back lash of a UK-instigated campaign that accused it of employing child labour in developing countries. It responded proactively with a rigorous CSR initiative,including the...
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