Above-trend growth at full capacity is not "normal," just as recession is not "normal," so it's not quite so clear-cut.  Economies growing too fast will chew through their spare capacity rapidly.  That's what pushes labor markets into causing inflation.  Spare capacity is gone, so companies begin poaching workers from their competitors, or they attempt to bring, for example, older workers back from retirement.  In the end, wages rise, which is what we've begun seeing, as I understand it, in America over hte nine months or so.  With spare capacity gone, companies cannot expand to meet the new level of demand, which inevitably causes inflation and higher interest rates.  The process goes on.  Sometimes it leads to recession, while other times it leads to a slowdown and eventually a return to strong expansion, as we've seen over the last year or two in Britain.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin