Phocus of Corinth Phocus of Corinth In Greek mythology, Phocus (; Ancient Greek: Φῶκος means "seal") the Corinthian, was a son of Ornytion (or Ornytus) and grandson of Sisyphus; some called him son of Poseidon. Thus he might be the same as the son of Poseidon and Pronoe referenced in the scholia on "Iliad", see above. Leaving the kingdom of Corinth to his brother Thoas, he led a colony to the region of Tithorea and Mount Parnassus; the land came to be named Phocis after him. Phocus is said to have cured the wandering Antiope of her madness, which she had been struck
Paradox of toil wages, and therefore reduces demand overall. Paradox of toil The paradox of toil is the economic hypothesis that total employment will shrink if everybody wants to work more when "the short-term nominal interest rate is zero and there are deflationary pressures and output contraction". When wages are pushed down by the simultaneous efforts of everyone in the labor force to work more even at lower wages, with interest rates against the zero bound, demand must fall because the only source of added demand would be added credit to compensate for those lower wages, credit which cannot be made available on