La NAIRU y la pseudociencia neoliberal

Abstract

We examine the pseudoscientific deviation of debate about the relationship between inflation and unemployment, particularly from the eminent works of AW Phillips and Milton Friedman. Neither the NAIRU, or the subsequent refinements of the Phillips Curve, have managed to break away from the hard core marginalist underlying the "natural rate of unemployment." The inability to find a satisfactory macroeconomic synthesis is the result of efforts to reconcile the legitimizing discourse of neoliberalism with the actual functioning of the capitalist system. The contradiction has tried to plague the debate resolved immunization strategies and fallacies that have driven economic theory to the field of pseudoscience.