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To: Sam Citron who wrote (2860)10/21/1997 5:00:00 PM
From: Cary Salsberg  Read Replies (1) | Respond to of 10921
 
Sam,

RE: "Trade raises standards of living in developed countries, not by raising wages, but by benefitting consumers."

Real income factors in both wage increases and the rate of inflation. The inflation rate is lowered by lower cost foreign goods, but no net increase in real income indicates that the negative effects on wage rates balanced the positive effects on costs of consumer goods.

Cary


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