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psud , 6 months ago That was last time, we had a wage-price spiral. Wages went high, which pushed prices up, which pushed wages up, etc On this occasion it is a price-nothing spiral. Prices go up, wages stay static, prices go up, etc
That was last time, we had a wage-price spiral. Wages went high, which pushed prices up, which pushed wages up, etc
On this occasion it is a price-nothing spiral. Prices go up, wages stay static, prices go up, etc