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The way unit labor costs over the whole economy are defined they are pretty much a factor times the percentage of labor income over GDP. So demanding that ulc drop to retain competitiveness as a global imperative, is tantamount to demanding even greater income inequality, globally. Which is of course the point of this whole rhetorical exercise...

The road of excess leads to the palace of wisdom - William Blake
by talos (mihalis at gmail dot com) on Sat Feb 18th, 2012 at 10:49:57 AM EST
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