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no most people don't know on inflation really works I expeculate 99% of the people don't really know or have big misconceptions on how inflation works. "Politi
by elmar 9y ago
no most people don't know on inflation really works I expeculate 99% of the people don't really know or have big misconceptions on how inflation works.
"Politically, it is far more palatable than raising taxes because the process is badly understood and well obfuscated."
It is really self-explanatory
"any price decrease that would have occurred as a result of productivity gains are denied to the consumer" trough inflation.
- ivanbakel 9y agoBut we're not talking about a nominal dollar change in prices. The point was that the real wages have gone down, and that's not a direct result of inflation because you would expect workers to demand raises in line with inflation if they had the power to. Instead, manufacturing workers don't have that power.