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Fed, Banking regulations, Capital flow, Crisis, Part 10

This article analyzes the minimum wage and quantitative Easing issues in the light of the historical experience of 1949 recession. Effectively shows, how 1949 recession was exactly opposite of what liberals expect from a rise in minimum wage. In 1949 GDP, department store sales, wholesale price and cost of living indexes fell, while unemployment went up, as a result of rise in minimum wage and tightened monetary policy.

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