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Friendly reminder that "inflation" more or less definitionally implies that wages increase proportionally to consumer goods prices. If prices are going up and w
by nerdponx 3y ago
Friendly reminder that "inflation" more or less definitionally implies that wages increase proportionally to consumer goods prices. If prices are going up and wages aren't, it's just people getting proportionally poorer.
- some_furry 3y agoCosts have inflated, wages have not.
- gruez 3y agoThey have, though: https://news.ycombinator.com/item?id=38325650 https://news.ycombinator.com/item?id=38325650
- JumpCrisscross 3y agoThere is a psychological effect in that price rises are perceived as inflation while wage increases are seen as personally earned. So even though real wages are going up, at the individual level, they're not seen as being macro-economically driven.