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This article mentions providing $5 of value when the daily wage is $5. Question for an economist: what effect does this have on an emerging economy? If scaled
by throwoutway 5y ago
This article mentions providing $5 of value when the daily wage is $5.
Question for an economist: what effect does this have on an emerging economy? If scaled up to half of the population, does that cause inflation?
- claudiulodro 5y agoIt's complicated. For example, productivity in America has soared the last 50 years, so people are providing more value than ever, but American salaries have not increased at the same pace.
- gruez 5y ago>but American salaries have not increased at the same pace. AFAIK most of the difference is from measuring total comp vs. wages.