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Inflation with Richard Wolff & Dean Baker

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Is There a Labor Shortage?

We are seeing millions of americans quit their jobs. We are also seeing a spurt of strikes. Think what we are seeing is, in fact, a delayed anger by the American working class as having been shafted for these last 30 years. It's taken them a long time to kind of figure it out and their pushing back. And i think what you're seeing is also a labour shortage that reflects this. I don't know how long it'll last. But there's something basic that's going on here too. The supply and demand analysis they want us to learn mustn't be applied when they're in the position of having to pay the higher price.

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