Falling Wage Syndrome
falling wages are a symptom of a sick economy. And they’re a symptom that can make the economy even sicker. Full Story »
Posted by Dwight RousuReview
Krugman advocates for more job creation, warning against the Japan falling wages stagnation they experienced.
To break that vicious circle, we basically need more: more stimulus, more decisive action on the banks, more job creation. Credit where credit is due: President Obama and his economic advisers seem to have steered the economy away from the abyss. But the risk that America will turn into Japan — that we’ll face years of deflation and stagnation — seems, if anything, to be rising.
Dwight posted this story.
