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[ Ссылка ] , [ Ссылка ] 📈💲 ECONOMIC PARADOXES 💲📉
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In this video series we're covering everything about ECONOMIC PARADOXES.
The paradox of toil is the economic hypothesis that total employment will shrink if everybody wants to work more when "the short-term nominal interest rate is zero and there are deflationary pressures and output contraction". When wages are pushed down by the simultaneous efforts of everyone in the labor force to work more even at lower wages, with interest rates against the zero bound, demand must fall because the only source of added demand would be added credit to compensate for those lower wages, credit which cannot be made available on any looser terms; this loss of demand leads to loss of jobs.
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