Asklemmy

43936 readers

616 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
!lemmy411@lemmy.ca: a community for finding communities

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago

MODERATORS

369

"If you tell a lie big enough and tell it frequently enough, people will eventually come to believe it". What is an example of this happening today? (lemmy.dbzer0.com)

submitted 11 months ago by Melatonin@lemmy.dbzer0.com to c/asklemmy@lemmy.ml

541 comments fedilink hide all child comments

I would really rather that these were actual examples, and not conspiracy theories. We all have our own unsubstantiated ideas about what shadowy no-gooders are doing, but I'd rather hear about things that are actually happening.

you are viewing a single comment's thread
view the rest of the comments

[–] maynarkh@feddit.nl 43 points 11 months ago (1 children)

The wage price spiral.

[–] qaz@lemmy.world 4 points 11 months ago* (last edited 11 months ago)

I didn't know this concept was criticized. I just found a paper from the IMF which says the following:

... Perhaps surprisingly, only asmall minority of such episodes were followed by sustained acceleration in wages and prices. Instead, inflationand nominal wage growth tended to stabilize, leaving real wage growth broadly unchanged. A decomposition ofwage dynamics using a wage Phillips curve suggests that nominal wage growth normally stabilizes at levelsthat are consistent with observed inflation and labor market tightness. When focusing on episodes that mimicthe recent pattern of falling real wages and tightening labor markets, declining inflation and nominal wage growth increases tended to follow – thus allowing real wages to catch up. We conclude that an acceleration of nominal wages should not necessarily be seen as a sign that a wage-price spiral is taking hold.

Sollaci, J. a. a. C. B. H. H. H. P. (2022, November 11). Wage-Price Spirals: What is the Historical Evidence? IMF. https://www.imf.org/en/Publications/WP/Issues/2022/11/11/Wage-Price-Spirals-What-is-the-Historical-Evidence-525073