Man, money and machines: The contributions of A. W. Phillips

Abstract

A. W. Phillips is widely known for the Phillips curve, from an article in Economica fifty years ago. Less well known is that he was an unusually talented electrical engineer who retrained as an economist and made pioneering, if unconventional, contributions across a wide range of macroeconomics: physical modelling, dynamic stabilization, continuous-time modelling and applied econometrics. In making these contributions, he was a child of his times. This paper focuses on the environment that helped make Phillips, what motivated his questions, how he formed his ideas, how he solved problems, and what difference that has made to the study of economics. © The London School of Economics and Political Science 2009.