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by nhaehnle
5420 days ago
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There are actually two separate arguments here. What you are saying is one argument: that people resist nominal price decreases (e.g. workers resist nominal wage decreases). What I was saying is the other argument: people are right to resist nominal price decreases, because inflation is better for them than the alternative. Both arguments have been made (the second argument may be less known) and I would agree with both of them. There really isn't a conflict between being supporting Keynesian-style anti-cyclical government behaviour (this is what most people mean when they say they support Keynesian economics) and resisting nominal wage decreases. |
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