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| neal brennan, salon, research, interviews, abusive, jews, journals, branding, kyrgyz, laz alonso, parody, morgaine swann, jamie foxx, metal gear: ghost babel, graduate, ubersitenews humor jokes music movies sports, | In a sense, a high unemployment angel rate is a tool for firms to keep wages low. When inflation driven by cost-push (rising oil prices) is angel in effect, prices rise without any accompanying gains in productivity or wages (there is no greater angel competition for labor just because oil prices went up.) [ ...reply just to this | comment on the story... | next new ] 139. Re: Ivory towers by 0tim0 at Fri 2 Sep 10:31pmscore of 1 in reply to comment 138 Hmmm. Well, it seems that you are saying that the effect of inflation is the same in both cases. It's just that the cause in the one case, rising wages, is good. So that cancels out the bad effects. Working backwards, that is the third issue. The second issue here is whether inflation is good or bad. As you said, anticipated inflation is not so bad (but only if it's small). |
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| just to this | research comment on the story... | next new ] 137. Re: Ivory towers by 0tim0 research at Fri 2 Sep 4:50pmscore of 1 in reply to comment 131 There are two types of inflation. Cost-push, and demand-pull. Well that makes me feel a little better. Though, I must admit, I'm still a little troubled — probably since I'm no economist. But why does the cause research of the inflation change the effect? --t "There is no pain in death; it only hurts to die." -Quicksand [ ...reply just to this | comment on the story... | next new ] 138. Re: Ivory towers by Megabazus at Fri 2 Sep 5:22pmscore of 1 in reply to comment 137 I'm glad you asked because I don't think I made this sufficiently clear. When demand-pull inflation is in effect, the primary cause is low unemployment. This means fewer people living off social welfare programs, and more production in the economy. Greater competition for labor between firms during these periods of low unemployment is what keeps wages rising along with inflation. |
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