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My data is anecdotal. I live in the suburbs surrounded my middle class people like myself. Food / clothes / tools / entertainment are plentiful. People are livi
by jay_kyburz 6y ago
My data is anecdotal. I live in the suburbs surrounded my middle class people like myself. Food / clothes / tools / entertainment are plentiful. People are living a good life.
Here in Australia, house prices are rising significantly faster than inflation. My personal suspicion is that its because everything else is so cheap, the middle class can afford borrow and spend more of their dual income salaries on their houses.
Yes sure, the "they" is business owners, but its expected that the business owners should then pass that cost down to the consumers that buy the products. Yes, the business owners are reaping the rewards, but so are all of us consumers. (It's future generations that will pay the price.)
The root cause may be that we allow some people to have too much power in our society. But the amount of money they have in their bank accounts is irrelevant. We live in a democracy so we can make rules that balances power, but we choose to allow people with a lot of money to have a lot of power.
I think its much more interesting to look at inequality of power than inequality of money.
- jb775 6y agoFood/clothes/tools became cheaper over the past 100 years as economies of scale were built, but they were much cheaper 10-15 years ago when you compare price to purchasing power of income. This is a somewhat recent trend we're talking about (last ~25 years or so). I think inflation is rising a lot faster than you think. They don't admit there's actual inflation until it's already been here for a while. > We live in a democracy so we can make rules that balances power Not true and never has been. This is a pipe dream for suckers. The golden rule is that those with the gold make the rules. > inequality of power vs inequality of money Money buys power (lobbyists, legal bribes, media access, etc), so these are basically the same thing if someone with lots of money is interested in spending it on obtaining power.