11 ms·
Substitute inflation for wage inflation. It's not that there are no returns, but that the rate of return is completely decoupled from reality. Productivity grow
by lsd5you 11y ago
Substitute inflation for wage inflation. It's not that there are no returns, but that the rate of return is completely decoupled from reality. Productivity growth is what (1-2%)? Real terms wage inflation is what (~0% since the 70s).
- base 11y agoProductivity growth is just a part of the equation. You have population growth and several other factors.