Later On

A blog written for those whose interests more or less match mine.

Robert Samuelson: go away

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What a jerk. From his column today:

 Recessions also have often-overlooked benefits. They dampen inflation. In weak markets, companies can’t easily raise prices or workers’ wages.

Ah, yes: that great benefit, stagnant wages. How happy will be the hearts of the workers and their families as this benefit comes home—and in fact, they must be happy already, since real wages have been stagnant over the past several years, at least for the middle and lower classes. Those hedge fund managers, now, that’s another story.

Written by Leisureguy

7 November 2007 at 2:17 pm

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