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So far people in the thread seem to be focusing on whether the use of inflation is appropriate and whether coffee is specific or merely representative or whethe
by ebg13 8y ago
So far people in the thread seem to be focusing on whether the use of inflation is appropriate and whether coffee is specific or merely representative or whether small costs add up.
But they've all missed what I think is the true takeaway:
> Please excuse my lack of enthusiasm for discussing 4-dollar lattes while we ignore 30-plus years of zero real wage gains.
- esotericn 8y agoAs an individual, this is almost a philosophical statement, though. I can actually choose not to spend $5 (just as I can attempt to enter a certain career path). I can't change the median wage significantly. It's not actionable.
- fwip 8y agoYou can't change wages directly on your own, no. But the systems that set the wages are not immune to public opinion. (Whether you consider wages to be set by companies, government, or other forces, this holds true.)
- esotericn 8y agoSure, and if I had secured a high income or had established wealth, such a topic might be worth my time. As an individual, actually saving that money or driving a higher income for myself is a far more effective use of time. It also has the side-effect of increasing the median wage, because my negotiation provides upward pressure.
- peterwwillis 8y agoThat's like saying, "Pardon my lack of enthusiasm about self-driving cars while we ignore an industry that continues to pollute the environment." Pardon me while I have one conversation at a time...
- geodel 8y agoYes, maybe he will admit that Globalization which caused income stagnation in much of the western world is a big problem. Simultaneously it is also the thing that made big money for him and his wealthy clients.