The unemployment rate will be announced today. It’s expected to be low and the message that we'll need to swallow the bitter pill of increased unemployment is ramping up
Employment and inflation links are based on economic orthodoxy of the mid 20th century prior to globalisation and the destruction of labour power. The main driver of inflation in the new world order of globalisation is margin growth through monopolistic behaviours of an increasingly monopolistic controlled supply chain. Higher interest rates are not the solution; rather super taxes on monopolistic margins. A super tax on excess margin.
Employment and inflation links are based on economic orthodoxy of the mid 20th century prior to globalisation and the destruction of labour power. The main driver of inflation in the new world order of globalisation is margin growth through monopolistic behaviours of an increasingly monopolistic controlled supply chain. Higher interest rates are not the solution; rather super taxes on monopolistic margins. A super tax on excess margin.
Re Inflation & unemployment.
I'm travelling around flooded Victoria, Australia and haven't commented for a while!!
I love your commentaries and other re kiwi life.
Re inflation and unemployment - the Phillips curve et al were lost in the dust many years ago.
An issue with this inflationary period is that it is a "Profit Driven Inflation".
If profits are not dealt with then the inflationary moment will be an ongoing problem.
If it was an employment driven inflation then of course tinkering around with un/employment may affect the process.
I can discuss further but your eyes would glaze over and the thinking processes slow down.
"Profit driven inflationary period"