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Inflation for luxury goods or the types of things the 10% buys (which has some overlap with everyone else: they too, need food, housing, etc). But most househol
by JMTQp8lwXL 6y ago
Inflation for luxury goods or the types of things the 10% buys (which has some overlap with everyone else: they too, need food, housing, etc). But most households don't need more than 1 washing machine. So you gift any amount to the top 10%, but washing machine prices aren't going anywhere.
- alisonkisk 6y agoHealthcare, education, housing prices go somewhere though.
- Red_Leaves_Flyy 6y agoJust about every thing limited by domestic labor has been inflating for decades.
- jcfrei 6y agoGlobalization is certainly a very important factor but technology also has to be mentioned. In lots of industries it has massively reduced the bargaining power of the working people. Mostly because increasing output is much less dependent on labour than in the past.
- Red_Leaves_Flyy 6y agoTechnology does not reduce labourers bargaining power. Legislating away workers protections, union busting, and allowing unchecked capitalism to depress wages while skimming the profits off the top and socializing the externalities reduces bargaining power.