Mainstream: Inflation is wage- and demand-driven.
Post-Keynesian: Real wage growth triggering productivity growth is disinflationary. Inflation is caused by excess profits that employ cost increases as an excuse.
Which explains the 10-year experiences of the UK and Germany?
Post-Keynesian: Real wage growth triggering productivity growth is disinflationary. Inflation is caused by excess profits that employ cost increases as an excuse.
Which explains the 10-year experiences of the UK and Germany?
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