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The Prospector had an in-depth chat with leading economist and author George Magnus on a wide range of domestic and global economic issues. This is the second of four parts of the interview which will be published here in the coming days.

Jay Elwes: On the matter of Britain’s stagnant wage problem, it seems there are two ways to look at this—one optimistic, the other pessimistic. Wages have been stagnant since even before the crisis hit in 2007/8. And they are stagnant still. And the implication of that is that we are experiencing a prolonged period of wage stagnation in…

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