“In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand; the spiral operates when there is too much and also,unfortunately, when there is just enough.”
Quote by John Kenneth Galbraith
Author
John Kenneth Galbraith
John Kenneth Galbraith was a renowned economist known for his research on economic cycles, market structures, and government policies. His works have had a profound impact on economic theory and policy practice. more
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