Oh, well, at least it keeps down inflation. Isn't that right?
Once, these people managed to convince themselves that union wage claims had caused price increases, the opposite of the case.
Today, they have managed to convince themselves that it was the simple existence of British teachers and nurses that caused Lehman brothers to go bust in New York.
The combination of low inflation with full employment used to be taken for granted in several Commonwealth and European countries. Until they started to copy the Britain of the last 35 years.
They need to re-learn what they used to know. And we still need to learn it.
Today, they have managed to convince themselves that it was the simple existence of British teachers and nurses that caused Lehman brothers to go bust in New York.
The combination of low inflation with full employment used to be taken for granted in several Commonwealth and European countries. Until they started to copy the Britain of the last 35 years.
They need to re-learn what they used to know. And we still need to learn it.
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