Jonathon Hazell on the Costs and Causes of Inflation and the Phillips Curve Debate
Macro Musings with David Beckworth
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Inflation's Impact on Wages and Worker Conflict
This chapter explores the resurgence of inflation and its effects on wage negotiation and worker perception. It highlights the psychological and economic challenges workers face during inflationary periods, including the conflicts that arise between employers and employees. The discussion emphasizes the complicated relationship between real wages, inflation, and the associated costs of conflict, revealing how inflation can act as a tax on those less inclined to negotiate for higher salaries.
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