Today our nation is in recession. Nobody can deny it. No politician, no Wall Street financier, no journalist can say otherwise. The discrepancies concern the main method of economic response to this crisis. Some politicians point to the unemployment rate and invoke the powers of Congress to reduce it. Still others look at the sneaky inflation percentage that hides behind, like a shadow, ready to cut purchasing power and increase prices. Unfortunately, as the Phillips curve warns us, the two are irreconcilable. Lower inflation leads to higher unemployment, while higher employment leads to higher prices. The discrepancies concern the classic battle between controlling inflation and unemployment. While it may be the least popular choice, policymakers should focus on containing inflation since it has a large impact on our economy and is a more accurate indicator of economic stability. Many individuals have questioned the validity of macroeconomic theory. In a 1999 editorial, Frank Riessman wrote that "virtually all forecasts by mainstream economists have...