There is one other complication in the question about inflation and real
wages: Many of the people in the working class are NET DEBTORS. This is
particularly true of the section that owns their own homes -- as well as those
who are struggling to get out of the working class with heavy student lo
There is one other complication in the question about inflation and real
wages: Many of the people in the working class are NET DEBTORS. This is
particularly true of the section that owns their own homes -- as well as those
who are struggling to get out of the working class with heavy student lo
Peter D. writes:
>
>I disagree with Rudy F about inflation being a mechanism that lowers real
>wages, either logically or historically. Logically, of course, the circular
>flow indicates that aggregate purchasing power remains unaffected, and the
>main distributional effect of greater-than-expect
Peter D. writes:
>
>I disagree with Rudy F about inflation being a mechanism that lowers real
>wages, either logically or historically. Logically, of course, the circular
>flow indicates that aggregate purchasing power remains unaffected, and the
>main distributional effect of greater-than-expect
