Wage data seems to say that it's growth does not match the amount that corporate valuations nor their profits. Nor does it match the growth of costs for longer term societal needs such as healthcare nor education... On the other hand large accumulations of wealth have had no such growth problems - let alone vs inflation.
So yes salaries go up, but not in concert with people's costs nor with the value that is generated by people's labor.
The prices they pay for goods go up...
The salaries do go up as well.
No, they don't. That's by design.
https://krugman.blogs.nytimes.com/2010/02/13/the-case-for-hi...
It's right there in plain English: Inflation exists as a policy to screw "workers" out of the value of their wages.
Workers is a nicer way to say lower classes. It doesn't include investors, financial sector, etc, who strongly benefit from inflation.
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Wage data seems to say that it's growth does not match the amount that corporate valuations nor their profits. Nor does it match the growth of costs for longer term societal needs such as healthcare nor education... On the other hand large accumulations of wealth have had no such growth problems - let alone vs inflation.
So yes salaries go up, but not in concert with people's costs nor with the value that is generated by people's labor.
1 reply →