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A bread that costs 10 USD would take a worker earning 10USD/hour an hour to earn. Surely a bread that requires the worker to work only 5 minutes has a lower va
by axiosgunnar 6y ago
A bread that costs 10 USD would take a worker earning 10USD/hour an hour to earn.
Surely a bread that requires the worker to work only 5 minutes has a lower value than a bread that requires 2h or labor?
- Ancapistani 6y agoOf course, but neither inflation nor deflation occur in a vacuum. Barring a major increase in productivity, a single commodity doesn’t fall 95% in price without wages falling at the same time.