What Wage Price Spiral?

For some time, BUSINESS WEEK has taken a strong pro-growth position. We believe that U.S. productivity is higher than government statistics indicate and inflation is significantly lower. We see the global economy as severely restraining the pricing power of companies which recognize that in the current competitive reality they must generate profit by boosting efficiencies, not prices. In other words, we believe the U.S. can achieve growth rates higher than 2% without renewed inflation.

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