On Wed, Feb 28, 2024 at 03:14 PM, Mark Baugher wrote: > > Marv, it was price inflation, not wage inflation.
It was the 1973 oil price shock which sent energy and other commodity prices soaring with knock-on effects on the rest of the economy. Note that I said that the unions, always the scapegoat, were blamed for “wage push” inflation. In fact, the unions were playing catch-up which is why COLA clauses became such an important demand in the 70’s. It’s been an interesting but overlong discussion of a somewhat academic nature. If there are political differences implicit in the various disagreements expressed about the starting point and causes of the long decline of the trade unions, I haven’t been able to identify them. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#29175): https://groups.io/g/marxmail/message/29175 Mute This Topic: https://groups.io/mt/104608543/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
