Ah, yes, wage inflation. When wages have been stagnant or even negative after adjusting for inflation for 40 years, when wages haven’t grown basically at all with respect to GDP for 40 years, yes, wage inflation. I like how it’s inflation due to supply chain disruption until people want a cost of living increase.
Even this, which is the reality of it plus some hefty price gouging from our oligopolistic lords, has been a marginal position among economists. Larry Summers still out at his vacation home telling CNN that unemployment must rise and pay must stagnate for the god of capital to be satiated.
Ah, yes, wage inflation. When wages have been stagnant or even negative after adjusting for inflation for 40 years, when wages haven’t grown basically at all with respect to GDP for 40 years, yes, wage inflation. I like how it’s inflation due to supply chain disruption until people want a cost of living increase.
Even this, which is the reality of it plus some hefty price gouging from our oligopolistic lords, has been a marginal position among economists. Larry Summers still out at his vacation home telling CNN that unemployment must rise and pay must stagnate for the god of capital to be satiated.