“… when there was a cost shock propelled by the rise of oil prices, pushed up further by a wage-price inflation spiral, because the labor movement was strong enough at the time to bargain for wage increases.”
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Cost Shock
“… when there was a cost shock propelled by the rise of oil prices, pushed up further by a wage-price inflation spiral, because the labor movement was strong enough at the time to bargain for wage increases.”
2/6