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Anna Stansbury on How to Boost Worker Bargaining Power
Odd Lots
Is Nominal Wage Growth Outstripping Productivity?
David Frum: We need sustained productivity growth, and then you can have sustained wage growth. If nominal wage growth is systematically outstripping productivity, that's given me one of two things. Either it's going to mean that there's this big redistribution happening from capital to labor,. Or it's because there's inflation, and that's going to generate and stimulate more inflation in prices. And that means that, as you said, you're running to stand still.
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