Why does low unemployment no longer lift inflation?
The Phillips curve, the logic of which guides central banks today, has become oddly flat
EVERY NIGHT at about 10pm the lights of the prisoner-of-war camp in Indonesia would mysteriously dim, to the puzzlement of the Japanese guards. They failed to spot the makeshift immersion heaters, used to brew cups of tea for the inmates, that had been cobbled together by a prisoner from New Zealand, William Phillips. These secret contraptions were just one example of his resourcefulness.
This article appeared in the Schools brief section of the print edition under the headline “A flattened curve”
From the August 22nd 2020 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Schools brief
LLMs and diffusion models are all the rage
But the designs of deep neural networks continue to evolve
The race is on to control the global supply chain for AI chips
The focus is no longer just on faster chips, but on more chips clustered together
AI firms will soon exhaust most of the internet’s data
Can they create more?
A short history of AI
In the first of six weekly briefs, we ask how AI overcame decades of underdelivering
Finding living planets
Life evolves on planets. And planets with life evolve
On the origin of “species”
The term, though widely used, is hard to define