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Sure inflation would never subside, but people would still be more able to afford things if wage increases outpaced inflation. Wage increases and inflation are
by faeriechangling 3y ago
Sure inflation would never subside, but people would still be more able to afford things if wage increases outpaced inflation. Wage increases and inflation are sort of inevitable right now because capital is overvalued. All these schemes to try and control inflation by suppressing wages are bound to fail.
The people who are extracting rents on the economy need to have their rents reduced and inflation naturally eats into those rents. The problem isn't that people at McDonalds are making too much money, they are still making a pittance after all the wage hikes, the problem is unproductive rent seekers.