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Improving periphery productivity without increasing demand will just make unemployment worse. -
The basic problem is that productivity and wages have to follow each other, or the economy comes under ever increasing strain until it simply falls apart.

 This is so very obvious that it ought to be in the economy 101 syllabus, except economics is not actually about the economy anymore, but has degenerated into a branch of political retoric.

by Thomas on Thu Aug 30th, 2012 at 01:25:46 AM EST
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