Wage Growth != Inflation. Wage Growth = Value / Share++ (i.e. workers obtain a larger share of value generated by their work) Inflation = Shares++ / Value (i.e.

Wage Growth != Inflation. Wage Growth = Value / Share++ (i.e. workers obtain a larger share of value generated by their work) Inflation = Shares++ / Value (i.e. the same value is split into more shares / dollars) Maximum employment != minimal unemployment. Maximum employment == maximum labor force participation + minimal unemployment.