1. To speak with the Duchess in Alice in Wonderland.
2. Even a rise of wages equal to the increase in labour productivity may have an inflationary effect. If strongly expanding industries pay as much as their own productivity increase admits, other industries which cannot afford the same wages will have to follow suit and shift the burden to the consumer. In fact the unequal growth of productivity, combined with a more or less central wage policy, may be an important reason for wage inflation.
3. Assuming fixed technological coefficients and a constant categorial distribution.
4. In addition, cost-push inflation may result from raised taxes, extension of social securities, the rise of import prices and so on. In these cases, too, the parties concerned try to shift the burden to the consumer.
5. ‘The following metaphor may clarify things: with regard to Say’s Law, monetary theorists (like Hayek and Hawtrey) can be considered heretics. They believe in it, but their belief is marred by certain aberrations. Keynesians can’t be accused of heresy; they just don’t believe’. J. Pen, Moderne Economie, 1968, p. 152.