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 nominal short-term interest rates; and that an increase in the minimum wage affected only aggregate employment, with paradox of toil saying nothing about composition. Paul Krugman and Eggertson have since proposed that the paradox of toil and the paradox of flexibility mean that wage and price flexibility do not facilitate recovery from recessions during a liquidity trap, but actually exacerbate them. The reasoning behind the paradox of toil, together with the paradox of flexibility, has led to speculation that there might be a "paradox of innovation" by which greater labor productivity or cheaper products reduces demand for labor, which reduces