EN
he author presents in this article genesis of the discussion on Phillips' curve pointing out that the bourgeois economy commonly recognizes relationships ensuing from it and concerning interrelationships between level of wages and employment. Against this background, there is performed a critical analysis of Phillips’ argumentation from the Marxist viewpoint. Its shortcomings include: - Phillips' curve treats and interprets relations discovered empirically a priori in theirausative sense without formulating politically and economically justified arguments pointing at real occurrence and in variability of given relations and without seeking causes of their occurrence and changes ; - relationship between economic growth, level of wages, pries and employment assumes many more forms, it is much more differentiated and hides more contradictions than it can be conveyed by non-dialectically constructed bourgeois commentaries; - even if it is possible to show a correlation between growth of prices and decrease of unenęloyment in the empirical way, this does rot mean that the correlation could be theoretically justified as a "law"; - explanation of Phillips' relationships is a purely subjective interpretation of the past economic states and events, in which the operation of economic laws of capitalist production is passed unnoticed.