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by eli_gottlieb
1186 days ago
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>The most mainline Keynesian would say that inflation has many more causes that just wage growth. Yeah, but I don't think Summers and Rogoff are mainline Keynesians. They're Chicago School neoliberals, IIRC, and their training and career experience really has been within the ideology that inflation is a function of the bargaining power of labor and you purchase low inflation by wage repression. |
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