David P. Goldman — There ain’t-a no Phillipsy Curve, once again

If we get inflation, it could be minus wage pressure across the board but only in places were the labor supply is short. Ordinary workers may not see much relief in the expansion, replicating their situation in the long and slow recovery period, owing to structural shifts in the economy — downsizing, offshoring, automation and robotics, etc.

Asia Times
There ain’t-a no Phillipsy Curve, once again

David P. Goldman