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That's the whole point of inflation. Remember, wages are 'sticky' in that workers don't like getting their pay cut. So economists invented a way to rob them whi
by Altay- 11y ago
That's the whole point of inflation. Remember, wages are 'sticky' in that workers don't like getting their pay cut. So economists invented a way to rob them while giving them nominal wage raises!
- peterfirefly 11y agoInflation makes adjustment to relative wages much easier (i.e., having some jobs decline in wages and others increase). That is such a good thing that it (probably) outweighs the negatives. It does seem like it should be a low and relatively constant and predictable inflation, though.
- angrybits 11y agoI don't feel like you're deserving the downvotes you're getting. Printing money is indeed theft or taxes, depending on your bias, because it dilutes your cash savings.