That's an illusion. Wages rise in real terms (discounting inflation) when productivity grows. There's a whole body of economics observations and literature on t

That's an illusion. Wages rise in real terms (discounting inflation) when productivity grows. There's a whole body of economics observations and literature on that and we should not ignore it. If you owe debt without inflation adjustment, that's a protection against inflation. But it requires reasonable amount of financial literacy to be smart and know exactly how and when to use debt as a hedge against inflation.