I’m publishing this comment as a post because I’d forgotten about the effects of inflation on wages – a phenomenon that I haven’t read elsewhere recently - and partly because I’d like someone to answer the question not answered here, namely, what are the advantages of deflation or zero growth? I also like the notion [...]
Monthly Archives: February 2009
Inflation is handy for stealthily lowering wages, deflation makes money cheaper but discourages risk-taking.
February 4, 2009 – 10:51 am
Globalisation works – we can ship in cheap Italian labour for our French oil refineries
February 2, 2009 – 4:43 pm
‘Lord’ Mandelson of Bilderberg made an unwelcome return to the nation’s airwaves to defend the relatively indefensible position of French-owned Total Oil to outsource blue collar maintenance to Italian sub-contractors. Unsurprisingly, the former EU Trade Commissioner defended the right to free movement of labour inherent in the 1992 Maastricht Treaty, but he also claimed that [...]