This vindicated criticism by Milton Friedman and Edmund Phelps, among others, who had already begun to argue that the Phillips curve represented merely a short-term relationship. If people do not expect inflation, the illusion of increased purchasing power can boost employment and output for a relatively short period.
这证明了米尔顿·弗里德曼和埃德蒙·菲尔普斯（Edmund Phelps）及其他人的批评，他们开始指出，菲利普斯曲线只代表了短期关系。如果人们没有通胀预期，那么购买力增加的幻觉能在相对较短的时期提振就业和产出。但当工人意识到真实工资并未增加时，失业会回到与稳定通胀一致的“自然”水平。