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Economic actors act, at best, on expectations

Now there's a good point.

We are led to believe that Joe Public, suppliers and all the rest work (or rather make their wage claims) on expectations of FUTURE inflation.

My view of the real world is that most people are interested in the rises in prices they have recently experienced as opposed to those they EXPECT to happen ion the future...

But what do I know....

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Wed Jun 20th, 2007 at 03:13:21 PM EST
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