...until unemployment falls closer to more normal levels, corporate margins do not appear vulnerable from a spike in unit labor costs.
So if your plan is to solve the debt problem by creating some inflation, how are you gonna get wages to go up along with prices? It's the key question. Because if wages don't go up along with prices, then rising prices will just make things worse.
It's not rising prices that make it easier for us to pay down debt. It's rising incomes.
Read it at The New Arthurian Economics
Notes on Labor
by The Arthurian
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