With respect to fallacies (or creation myths) within the economics 'tribe': 1. There was initially no theory behind Phillips' curve (theory fully developed and curve drawn in the Economic Journal, June 1954); 2. Phillips' analysis was not informed by inflationary expectations (in 1952, Phillips gave Friedman the adaptive expectations formula; Phillips' 1954 model alocates an important role to inflationary expectations). Robert Leeson