June 12, 2008 at 14:31 PM EDT
Watch for full employment to be redefined
[Skip to the end] It’s about that time of the cycle for ‘learned’ academic papers to start popping up claiming the NAIRU, the ‘non accelerating inflation rate of unemployment’ (or something like that) is in actual fact more like 7% rather than the currently believed 5%. And expect these findings to show that it’s always been [...]
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