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To: Jim Willie CB who wrote (33617)6/29/1999 6:36:00 PM
From: Morgan Drake  Read Replies (1) | Respond to of 152472
 
Full employment inflation? If everyone of the nation's unemployed were whisked off the face of the earth, then the U.S. would have a zero unemployment rate. So with just the employed remaining, how would that create wage inflation? Absent contrived wage rate props by govt and/or unions, employers are going to pay the marginal rate of productivity of labor regardless, aren't they?

Morgan