image- Gerd Altmann, via Pixabay.com Like a lot of popular myths about economics, the “wage-price-spiral” sounds so convincing. “Wage demands cause wages to rise, so suppliers have to put their prices up, so workers demand higher wages. So inflation runs riot, everyone suffers.” Seems like common-sense? Well, it isn’t. It’s an outstanding example of the …
Continue reading “#13 The “wage-price spiral” is pure, full-fat, 24-carat BS. Even the IMF says so.”
the pound in your pocket 