“There is no evidence of the emergence of a wage-price spiral in the present circumstances, & recent data suggest such an outcome is unlikely…”
“Comparative wage justice no longer plays the pervasive role it once did,..”
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greenleft.org.auWhy the RBA wants higher unemploymentThe Reserve Bank of Australia’s key weapon against the working class is its ability to crank up interest rates, which forces more people out of jobs, to become part of a reserve army of labour that then pressures those still with jobs to accept falling real wages. **Peter Boyle** reports.
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