3 ms·
Either wages keep stagnant and prices drop following productivity growth (gold standard) or wage growth = price growth (inflation) + productivity growth (fiat s
by rafaelero 3y ago
Either wages keep stagnant and prices drop following productivity growth (gold standard) or wage growth = price growth (inflation) + productivity growth (fiat system).
- lukas099 3y agoCan you explain why the monetary system changes the effects of productivity growth like this?