That these actions expand the money supply is secondary.

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First, the premium for skilled workers has been falling: a surge in secondary education has increased the supply of literate, reasonably well-schooled workers, and years of steady growth have raised relative demand for the less skilled in the formal workforce, whether as construction workers or cleaners.

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Indeed, the existence of a secondary market implies that demand outstrips supply.

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With high demand for season tickets and a low supply of PSLs, fans figure PSLs will sell on secondary markets at a profit.

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Secondary-school places are still in short supply.

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"Secondary markets with excellent fundamentals, including 'in check' supply, create compelling investments, " Ralph Rosenberg, global head of real estate for KKR, said in a statement.

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However, as the first-world shifts more and more positions overseas, and post-secondary enrollments continues to climb year after year, the laws of supply and demand are pointing to the contrary.

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