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Is there any economy that you are aware of that had high wage inflation without inflation in everything else? Wage inflation alone would be great for the averag
by sgerenser 4y ago
Is there any economy that you are aware of that had high wage inflation without inflation in everything else? Wage inflation alone would be great for the average worker, but wage inflation plus equal general inflation is at best a wash, and much worse for retirees who can't take advantage of those rising wages.
- ClarityJones 4y agoThe US economy is a great example, just look at the historical real GDP growth. The cost of goods, houses, cars, etc. have all increased over the past 200 years, but few would say that our standard of living has decreased.
- sgerenser 4y agoThe U.S. economy has not had "high" inflation (there were spikes here and there, but over the long run inflation has been quite moderate). That's kind of the whole point of what the Fed is doing, preventing inflation from running away and causing major problems.
- ClumsyPilot 4y ago> Is there any economy that you are aware of that had high wage inflation without inflation in everything else? 'Inflation' isolated to wages is called wage growth. Every developed country has gone through a period of wage growth. When you define the qiestion negatively, with 'wage inflation', the answers you get will be negative