3 ms·
if everyone is making $70k, everything simply becomes more expensive (so it doesn't matter if they make $70k or $700k)
by kofejnik 6y ago
if everyone is making $70k, everything simply becomes more expensive (so it doesn't matter if they make $70k or $700k)
- Avicebron 6y agoBut if the model is built to support this then it isn't an issue. If you see my earlier post about hypothetical improvements we can make to our global economy. If everyone is making more and industry is growing within the country then more classical economics applies (e.g. the pie is growing). In this scenario it's not an issue. It's only when there isn't positive growth that inflation is a huge issue.