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Jesus Christ, if the average net worth grew by 42% in a 3-year period, maybe we should use that as another possible quantification of inflation rates (which wou
by pcthrowaway 3y ago
Jesus Christ, if the average net worth grew by 42% in a 3-year period, maybe we should use that as another possible quantification of inflation rates (which would work out to ~12% per year). Yes, the wealthy skewing it via net worth (unspent money) doesn't necessarily dictate prices of goods directly, but anecdotally a lot of people have seen their costs rise by about that much, which is obviously fine for people who A) have a financial cushion and B) the growth of that cushion keeps up with observed inflation.
Ideally I'd love to see laws that mandate retained employees must be given a raise of X% per year, where X is whatever the highest reasonable measurement of inflation is (maybe do something radical like actually survey working class people to see how their cost of living has changed). Probably paired with some mandatory severance and other employee protection laws.