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Personal income also increases with inflation, unless of course you are in a recession, where "all other things held constant".
by alexb_ 4y ago
Personal income also increases with inflation, unless of course you are in a recession, where "all other things held constant".
- PaulDavisThe1st 4y agoThis is circular reasoning. It's also wrong as a general claim. Personal income, at least as traditionally measured, fell for a large number of US workers over a 35+ year period during which inflation was non-zero and yet there was not a recession covering the entire period.