social science production (was: Dark Sides of 'Solidarity'?)

Carrol Cox cbcox at rs6000.cmp.ilstu.edu
Mon May 11 15:58:36 PDT 1998


Brad De Long writes:

and that we are about to see
> inflation start rising by one percent per year every year, unless the
> unemployment rate creeps up to 5.5% or higher...
>
> I think there are two chances in three that he is right...

Wouldn't it be better, when not speaking to a class or a department head to say "rising wages" instead of "inflation." In so far as they are the same, inflation is definitely a human positive, as it was from 1949 to 1974. And the Fed seems to be fairly above board in indicating that it equates the two.

Carrol



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