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Old 21st September 2001 | 18:07
  #53 (permalink)  
Lucifer
 
Joined: May 2000
Posts: 724
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From: United Kingdom
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Scroggs,

Look up basic labour economics, and unfortunately there is a thing called sticky wages. This means that due to a number of factors, there is the theory that in fact in a recession wages do not go down, but simply the number of jobs decreases instead, and wgaes are in fact fairly inelastic.
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