The inflation vs. unemployment was well taught in my economics course circa 1992. But I can't recall the name Phillips being attached to it.

Regardless, the Phillips curve does make a lot of classical economic sense. I recall the theory behind the curve being quite easy to understand. And that is why it just might have too much popular appeal.

There are all sorts of economic endeavours that do not follow classical economics, like "raising mininum wage kills jobs." Sounds correct on paper, but the evidence is not there.

Similar to all other scientific and humanistic theories, new models are being formed and old ones cast aside. The Philips curve is just a part of that process.

Except for western democracy. Somehow we just can't let go of this model of government.