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The real question is why we even bother discussing a curve which was pulled out of the ass of a man who went on to invent a hydralic computer to model the national economy of the United Kingdom. https://en.wikipedia.org/wiki/Phillips_Machine
I think his greatest achievement was to demonstrate the concept of being a really clever idiot.
Economists are the priests of capitalism.
I have examined the ~~goat entrails~~ quarterly metrics and determined that ~~gods~~ markets require more ~~human sacrifices~~ corporate tax breaks
The second graph is a fucking terrible graph as none of the data points correlate with a specific time which would be needed to make a proper comparison to the graph on the left.
If you thought this made sense you are mistaken. OP likely knows fuckall about economics
If it's an attempt at amogus, it sucks too
Only tangentially related, but it's often accepted that there is no Nobel prize in economics. There is a Nobel memorial prize in economics (link), but as it was set up after Nobel's death it is in a slightly different category.
Economics is a subset of moral philosophy, which just happens to care a lot about mathematics but is (or should be) nonetheless primarily concerned with questions of morality.
not sure i agree per se but im willing to hear more?
maybe you mean to distinguish between economics as a study and economics as a mode of policy