Gregory's Server@teledyn I guess the implicit factor in my assumptions/fantasy is that we should all be making a lot more, which would relieve the price point issue somewhat. The existence of billionaires is to the detriment of all.
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4 comments
@teledyn I'm no economics expert (or even well-informed student), but my impression is that if wages and inflation rise together, that's a reflection of a fixed (abstract?) value. How much effect does altering extreme wealth inequality have on that dynamic? Wealth distribution is a problem globally, of course, and quite visible in the US, with 40+ years of wage stagnation, as a constantly growing portion of wealth goes those accumulating it for its own sake.  |
@gnate just as profits cannot grow forever, neither can wages. I mean look at Lira Pesos and Yen! You want milk prices given in exponent notation? $2.0e06?
It's like Einstein said 80 years ago, industrial humanity produces for profit, not for use.