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But whan unemployment is at 7%, twice the historical norm and definitely not a "full employment" level, where's the pressure to raise wages?

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Migeru (migeru at eurotrib dot com) on Wed Jan 26th, 2011 at 05:29:06 AM EST
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