4 ms·
> That's the wage-price spiral theory No, it's not. Wage-price spiral assumes two-way causation: that higher wages cause higher prices, AND that higher prices
by listenallyall 4y ago
> That's the wage-price spiral theory
No, it's not. Wage-price spiral assumes two-way causation: that higher wages cause higher prices, AND that higher prices lead to higher wages.
- WalterBright 4y agoWhat do you think higher labor costs will result in?
- listenallyall 4y agoI already said, higher wages or labor costs result in higher prices. But the other half of that spiral -- that higher prices are the cause of increased labor costs -- is not something I claimed.