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Hugo Salinas Price: Interest rate suppression pushes wages down and unemployment up
10:53p CET Thursday, December 11, 2014
Dear Friend of GATA and Gold:
Drawing on the work of economist Antal Fekete, Hugo Salinas Price argues today that interest-rate suppression damages labor by making capital less expensive relative to labor. As a result of interest-rate suppression, Salinas Price writes, "management will seek to reduce relatively more expensive labor by taking on debt to acquire capital goods to replace overall labor costs. In other words, the 'terms of trade' for manual laborers and employees are now set up against them."
Salinas Price, president of the Mexican Civic Association for Silver, headlines his commentary "Artificially Lowered Interest Rates Cause Stagnating Wages and Unemployment" and it's posted at the association's Internet site, Plata.com, here:
http://www.plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=259
You may need to load the site a second time to access the commentary.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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