Sorry Friends–Krugman Has Always Been Right
July 8, 2011 Leave a comment
It’s important to realize, by the way, that stagnant wages are NOT good for recovery; all they do is ensure that the burden of debt relative to income remains high, keeping demand and employment down.
The situation cries out for aggressively expansionary monetary and fiscal policy. Instead, however, all the political push is in the opposite direction.
About Stephen E. McGaughey
Coral Gables Watch 