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I’ve always assumed the problem is that price increases don’t count as inflation if they come with a “quality” increase, but that doesn’t help someone who now n
by jon_richards 3y ago
I’ve always assumed the problem is that price increases don’t count as inflation if they come with a “quality” increase, but that doesn’t help someone who now needs to spend more to survive.
So it can both be true that inflation-adjusted wages are rising and it is becoming harder to make ends meet.
A wage that supported a cowboy with two sets of clothes, a house that wouldn’t pass any building codes, a horse instead of a car, and no phone is not going to support a modern worker even if “adjusted” for inflation.
- sokoloff 3y agoYour comment makes me wonder what the relative total cost of a horse vs a car is.