that London would be twice as large...
Wage levels otherwise are to the welfare of workers -- i.e.
Somebody has to cut prices.Question #2: If a business must cut prices to sell its inventory, will it not also cut wages to preserve its profit margin, meaning that the growing value of deflating wages will simply be offset by wage cuts?
Hes going to have to spend money, but it wont be enough.
Wages will indeed fall with prices in a deflation, but falling nominal wages in the post Civil War era actually meant rising real wages: Wages did not fall as fast as the prices of goods.
Referendum on Europe," , Tuesday, January 3, 2012
This may be what is meant by "making money." But many people with large incomes simply spend them, which means in the end they actually end up "making" no money.
Regnery, "Balancing Acts," , October 2011, p.6 Robert J.
Anyone who thinks that $100,000 year would be a nice income, and might be able to invest money at a 5% return for a year, needs to save and invest $2,000,000 to get the desired income.
Barro (Harvard), "Keynesian Economics vs.
Ms. Geras was born and raised in New York City. She obtained her B.A in English Literature with a focus on Secondary Education and minor in Media Studies at Hunter College City University of New York. Her interest in the global community has led to her studying Spanish at Universidad Antonio de Nebrija, Madrid and completing a course in cultural studies at Deakin University in Australia.
The missing piece is a global growth agenda led by a U.S.
After obtaining her TEFL certificate, she worked as an English teacher for the Association Culture Linguistics Education in Italy. Here she primarily taught children aged 5-12, developing her versatility as a teacher for children of various ages, needs and backgrounds.