A stupid question to economics twitter. Why has inflation been so low for so long, despite all the money sloshing around the economy? 1. For an obvious reason I'm too basic to understand (give me links!) 2. For a subtle reason I'm too dim to understand (link me!) 3. Nobody knows
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Wage growth is more dependent on labour power than on how much extra money the bosses have.
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Causality tho. First the unions went down. Next we had MBA-led "efficiency" gains paired with predatory psychology-driven HR. Then public servant wages/benefits decimated via privatisation and anti-governance. Then casualisation and the gig economy.
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