Curiously, impoverishing wage earners eliminates cycles and recessions

The skewing of income distribution at the expense of wage earners in OECD countries in the past 20 years has led to the disappearance of inflation, even at full employment and with interest rates remaining low. This has led to the disappearance of economic cycles and recessions, since they were triggered by a rise in interest rates, which led to deleveraging, declining investment and a downward correction in asset prices. All things considered, it is therefore the impoverishment of wage earners that is leading to the disappearance of economic cycles.