The article discusses the relationship between inflation and unemployment in the UK economy. Initially, there was a focus on the Phillips curve, which showed a trade-off between inflation and unemployment. However, by the 1970s, this relationship was questioned as unemployment and inflation rose together. The concept of a natural rate of unemployment was introduced, suggesting that some level of unemployment is unavoidable. Recent research has shifted towards understanding the supply side of the economy and determining the non-accelerating inflation rate of unemployment (NAIRU).