John Maynard Keynes attributed the "stickiness" of real wages in the early years of the depression to ______.

Question

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Keynes believed that resistance by workers, especially unionized workers, to wage cuts was the primary reason for the stickiness of real wages in the early years of the depression. He argued that workers would rather be unemployed than accept lower wages, and this created a situation where employers were unable to reduce wages to match falling prices and demand.

John Maynard Keynes Attributed the "Stickiness" of Real Wages in the Early