Member Post

 

Because an increase in productivity is the same thing as a decline in unit costs of production, a productivity‐​driven decline in the prices of finished goods and services needn’t involve any decline in producers’ earnings, profits, or payrolls. Lower costs are matched by correspondingly lower consumer prices, not by lower wages or incomes. Such productivity‐​driven deflation is actually good […]

Join Ricochet!

This is a members-only post on Ricochet's Member Feed. Want to read it? Join Ricochet’s community of conservatives and be part of the conversation. Join Ricochet for Free.

There are 20 comments.
But you can't read them because you're not signed in!

Become a member to read the comments and join the conversation. Or sign in if you're already a member.
Become a member to read the comments and join the conversation. Or sign in if you're already a member.