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June 20, 2010


Luis Enrique

If for some reason or other (currency movement, protectionism) we were to stop importing so much (manufactured goods and outsourced services) would that stimulate growth (investment boom and possibly employment increase?) or reduce it (by effectively lowering productivity)?

Tim Worstall

"First, the trade-off between unemployment and inflation (in the US)"

This is explainable by Layard's look at shifts in the Phillips Curve. Specifically, by the extention fron 6 months to 2 years of unemployment benefits.


Yep, stagflation here we come. No better time than now to remove the growth imperative by developing the infrastructure for user generated value exchange.

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