Inflation Whips Labor

Jacobin‘s Seth Ackerman tells us that “Higher Inflation Doesn’t Reduce Real Wages” (February 22) since it “can only be sustained over time if the demand for labor is strong enough, relative to the supply, to force employers to continually bid up wages.” In those cases, “wages tend to rise faster than profits,” so their purchasing … Continue reading Inflation Whips Labor → - by Thomas L. Knapp
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