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Would laying off 20% of the workers have a different deflationary impact than reducing everyone's working hours by 20%?

The demand reduction is the same.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Tue Mar 3rd, 2009 at 10:23:38 AM EST
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