The links between inequality, deflation and the unemployed
Central banks should not interpret rising wages for selected sectors as inflationary in the "third industrial revolution".
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THERE is a rising differential between the rich and poor globally today.
The phenomenon is a direct result of two things: quantitative easing, and the displacement of human workers by machines.
The first of these two phenomena (quantitative easing) pushes up asset prices, resulting in increased wealth for those who own assets such as property, stocks and bonds.
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