5 ms·
The indicators are wrong because they make assumptions that do not match with how real people live their lives. It's basically a physics problem but with bad u
by throwaway22032 2y ago
The indicators are wrong because they make assumptions that do not match with how real people live their lives.
It's basically a physics problem but with bad units.
Median wage increase rate / inflation > 1 does not mean that the average person is better off.
As an N=1, I have more money than I used to, but I'm worse off because the majority of the things I want to do have skyrocketed in price over the past few years.
This is then reflected in the official inflation statistics by virtue of the fact that I buy less of those things, artificially decreasing the metric.
- potterken 2y ago[dead]