US EditionHow do you get wages down? - Goofynomics
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How do you get wages down? - Goofynomics
I heard this question asked at the end of the last lesson held at the League's School of Political Training, but before that I heard it asked by the most disparate interlocutors who found it difficult to understand, or, if they were idiots, to admit, that macroeconomic adjustment in a monetary union occurs at the expense of nominal wages. Average Joe Piddino's idiotic objection is: "But contractual nominal wages have not fallen! So dear Bagnai y…
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