The Money Illusion

The real:

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Pay especial attention to the period after the Great Recession. Compare that period to previous recessions, especially those recessions after 1972.
The nominal:
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You can understand my reason for suspecting that the vulgar complaint about “real wage stagnation” is really the money illusion at work and is directed at nominal wage stagnation.

Author: pithom

An atheist with an interest in the history of the ancient Near East. Author of the Against Jebel al-Lawz Wordpress blog.

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