Milton Friedman's Model vs the Layard-Nickell Model. What differs? Here is a brief chart taken from the Policonomics page linked below. A short and crude guide to get you caught up on your 20th century economic approaches to describing the markets we participate in every day. The recent author I read about, Alan Greenspan, gives credit in his book to Friedman for shaping his views on economics. It all boils down to your underlying take on human behavior and markets.
http://www.policonomics.com/lp-nke-nairu/
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