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Almost no inflation, and yet wages were growing? Sounds great. It's amazing what a lack of cheap credit can do. Cheap credit does allow upward social class mobi
by Thorentis 5y ago
Almost no inflation, and yet wages were growing? Sounds great. It's amazing what a lack of cheap credit can do. Cheap credit does allow upward social class mobility, but at the expense of a rat race economy, inflation, stifling wage growth, and arguably many other negative effects.
- gruez 5y ago>Almost no inflation, and yet wages were growing and all it took was a global pandemic that killed "30 percent to 60 percent of the European population"[1]. [1] https://en.wikipedia.org/wiki/Black_Death https://en.wikipedia.org/wiki/Black_Death