Krugman on a Wage Puzzle
Wages are highly quantized right now, neither higher nor lower by much.
All the new jobs are being bundled into stuck wage layering. Stuck in a stationary bind while demographics and technology press. Then a few bright hiring managers find a hedge, a middle wage and the while stack resorts as all the other wages zere no longer algebraic with the most efficient, there is no consistent tradebook error. We get the limit cycle.
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