Of course, the increase in the 'real' part for those working was coming from the falling prices
-----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] On Behalf Of Doug Henwood Sent: June 7, 2005 5:34 PM To: [email protected] Subject: Re: [PEN-L] German real wages in the Depression Jim Devine quoted: >We >find that real wages which were significantly above their market >clearing levels were the most important factor for the economic decline >in the depression. Years ago, a student of Anwar Shaikh's made the same argument to me about the US depression - and said that Anwar agreed with her. Doug
