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That's why I said "all other things being equal". In the general case is which there's no excess capacity, which can be assumed if the economy isn't undergoing
by logicchains 12y ago
That's why I said "all other things being equal". In the general case is which there's no excess capacity, which can be assumed if the economy isn't undergoing a recession or the like, it's inflationary.
- kaonashi 12y agoIt doesn't even have to be recession. Slow growth and high unemployment (such as what we're seeing right now) also indicate that there's plenty of room to mobilize idle capacity.