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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (614009)	6/2/2011 8:33:53 AM
From: combjelly	Read Replies (1) \| Respond to of 1576827

"Before the stagflation of the 70s it was generally believed that you could get lower unemployment for more than the short term, by accepting higher unemployment." This doesn't make sense. Can you rephrase? "but before the stagflation it was widely believe to work over the long term." Not knowing your premise, it is hard to evaluate the point you think you are making. I will say this, it was always known that inflation would outpace wage increases, and any long term inflationary trend would lead to rising unemployment as more and more people would be unable to maintain their standard of living. As that happened, spending would decrease and unemployment would increase.