sobota, 17. maj 2025

The wage price spiral refuted

Originally posted on Michael Roberts Blog: Do ‘excessive’ wage rises lead to rising inflation and thus drive economies into a wage-price spiral?? Back in 1865, at the International Working Men’s Association, Marx debated with IWMA Council member Thomas Weston.? Weston, a leader of the carpenter’s union, argued that asking for increased wages was futile because… damijan.org več »

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