2021-07-08 18:04:45
"over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers" [Link] CURRENTLY_RATED_HELPFUL(3-0-0) Author
2021-07-08 19:47:22
This misrepresents the dangers of inflation. Yes, wages go up, but the value of the money earned goes down. It doesn’t matter if you make $1B a year when the price of bread is $2B. [Link] CURRENTLY_RATED_HELPFUL(3-0-0) Author