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The rise and fall of industrial civilisation | 59 comments (59 topical, 0 editorial, 0 hidden)
Re: The rise and fall of industrial civilisation (4.00 / 2)
There was also artificial abundance of labor created in the industrial countries by central banks tasked with keeping inflation down, interpreted as keeping unemployment up.

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by A swedish kind of death on Sat Jul 17th, 2010 at 08:23:58 AM EST
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Re: The rise and fall of industrial civilisation (4.00 / 4)
To illustrate, an item presented in the Salon two years ago.

Riksbanken var oenig om räntebeslutet - Ekot | Sveriges Radio
Förklaringen finns bland annat i högre priser på livsmedel och energi, och i Riksbankens egna räntehöjningar. The explanation [to higher inflation] is partly found in increased prices on food and energy and also in the increased interest rates of the Central Bank.
Men till det kommer ett problem med att effektiviseringen av produktionen sjunkit, att produktiviteten blivit sämre än väntat. Något som i sin tur delvis bottnar i att det är goda tider på arbetsmarknaden med fler jobb och högre löner.But adding to that is the problem that the efficiency increase in production has declined, the productivity is worse then expected. That in turn is related to the good times on the labor market with more jobs and higher salaries.
Det är de problemen som vice riksbankschefen Svante Öberg i redan i december ville stävja med höjd styrränta.These are the problems deputy chairman Svante Öberg already in december wanted to stop by increased interest rate.

More jobs and higher salaries demands a solution in increased interest rates, because it can not be tolerated. That higher interest rates was a driving force in creating inflation is irrelevant.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Sat Jul 17th, 2010 at 08:37:32 AM EST
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The rise and fall of industrial civilisation | 59 comments (59 topical, 0 editorial, 0 hidden)
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