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The relationship between inflation and unemployment was first studied by Irving Fisher in 1926.
1926年，通脹與失業之間的關系在歐文·費雪(Irving Fisher)那里得到了第一次研究。
But the “Phillips curve”, as it came to be known, owes its name to a study in 1958 by William Phillips of the London School of Economics.
但是，作為它后來為人所熟知的“菲利普斯曲線”(Phillips curve)，卻是得名于倫敦政治經濟學院的威廉·菲利普斯(William Phillips of the London School of Economics)在1958年進行的一項研究。
In his study, Phillips traced the relationship between unemployment and wage growth in Britain over the course of almost a century.
在他的研究中，菲利普斯梳理了英國在將近一個世紀的時間中的失業和工資增長之間的關系。
He found that from 1861 to 1957 the relationship had been pretty stable: the lower the unemployment rate, the faster wages rose.
他發現，在1861年到1957年間，這種關系是相當穩定的：失業率越低，工資漲得越快。
This was remarkable, given the changes over that period in workers' rights.
鑒于工人權利在那段時間中的變化，這是不同尋常的。
In 1861 most workers could not vote; by 1957 the post-war Labour government had nationalised much of the economy.
大多數工人在1861年時還不能投票；到了1957年，戰后的工黨政府已經國有化了經濟體的巨大多數部門。
Paul Samuelson and Robert Solow, two other economic luminaries, subsequently investigated the relationship in America, and reported that there was no such stability there.
隨后，另外兩位經濟學泰斗——保羅·薩繆爾森(Paul Samuelson)和羅伯特·索洛(Robert Solow)調查了這種關系在美國的情況。他們在報告中稱，那里沒有這種穩定性。
The Phillips curve shifted around.
菲利普斯曲線反轉了。
But in any given era, Samuelson and Solow wrote, “wage rates do tend to rise when the labour market is tight, and the tighter the faster.”
但是，薩繆爾森和索洛寫道，在任何給定時代，“工資比率在勞動力市場緊縮時的確往往是上升的，而且是越緊縮越快。”
They described the relationship as a “menu”, encouraging the idea that the job of Keynesian policymakers was to pick a point on the curve that best aligned with their preferences.
他們把這種關系描繪成一份“菜單”，鼓勵了凱恩斯主義決策者的工作是在與其偏好最一致的曲線上找一個點的觀點。
How low unemployment could fall, in other words, depended only on what level of inflation was tolerable (for rising wages would surely end up lifting prices, too).
也就是說，失業可能跌倒多低，僅僅取決于什么水平的通脹是可以容忍的(因為不斷上漲的工資肯定也會導致漲起來沒完的物價)。
It is unclear whether policymakers actually thought of the relationship between inflation and unemployment as a menu.
決策者是否真就認為通脹與失業的關系是一份菜單不得而知。
But the idea was prominent enough by the late 1960s to attract withering criticism.
但是，這一思想之杰出，以致到上世紀60年代末引來越來越少的批評。
Its two main detractors, Edmund Phelps and Milton Friedman, would each go on to win a Nobel prize.
它的兩為主要的批評者——埃德蒙·菲爾普斯(Edmund Phelps)和米爾頓·弗里德曼(Milton Friedman)——每一個人都會繼而獲得一次諾貝爾獎。
譯文來源考研英語時事閱讀
