Not only could you handle it, it’s actually beneficial. Inflation - if matched with equivalent increases in wages - eats away at debt over time, because your debt is locked in at the point where you take it on, but your buying power relative to that debt continues to increase.
Our enemy is not inflation. Inflation can be our friend. Our enemy is stagnant wages that no longer rise in step with productivity.
Everyone needs to see this graph and really understand what our problem is.
The graph only includes the lowest paid 80% of the workforce production/non-supervisory workers. When using all workers, which is what you want to know if labor is lagging productivity, you must use all workers or else you aren’t measuring pay vs. productivity! In fact, EPI uses all workers in another graph and shows the gap decreasing significantly. Strangely, that’s not the graph that gets passed around. The headline and wage-inequality graph gets passed around. Savvy move on EPI’s part, I have to commend them.
The graph uses average hourly wages which does not include overtime, bonuses, shift premiums, and employer benefits…The graph provided ignores (better said, partially reflects) the growing share of compensation in benefits, not wages.
The graph uses the slow moving NDP to deflate output, while using the fast moving PCI to deflate compensation. NDP is chained, but CPI is not.
I think that even if every single assertion that person makes is taken, prima facie, to be completely 100% accurate and correct, it would still only modify my previous statement to “Our enemy is stagnant wages that - for the overwhelming majority of all workers - no longer rise in step with productivity.”
I’m really not clear on how that’s all that much of a difference. Good for the few people who lucked out I guess. The linked comment actually wraps up by saying the graph only demonstrates rising wealth inequality, which is, you know, the entire fucking point of the god damn graph, holy shit, where the fuck do they think people are claiming the lost wages went, into fucking space?!?!
I’d ask you if you rent or own your property. Are you able to buy as many groceries now as your parents could on similar budgets, inflation inclusive?
Because I know the answer, I’d suggest you look past statistics at this point and examine yourself and those around you, see if you’re able to accomplish more, or less, than your predecessors seemed to.
I have my biases and bents. I encourage you to do your own research and conclusions, vs parroting purported experts.
Not only could you handle it, it’s actually beneficial. Inflation - if matched with equivalent increases in wages - eats away at debt over time, because your debt is locked in at the point where you take it on, but your buying power relative to that debt continues to increase.
Our enemy is not inflation. Inflation can be our friend. Our enemy is stagnant wages that no longer rise in step with productivity.
Everyone needs to see this graph and really understand what our problem is.
and stagnant wages are a product of capitalism’s profit over people mindset.
the problem is capitalism and it needs to go.
1972… the pride and joy of the united states, richard nixon
Seems like we should really stop hiring shitty actors to play dress up as president
Then you can see where it tries to stay close until Reagan and it splits faster than a cheerleader.
The Heritage Foundation was founded in 1973, which just so happens to be the dividing line in this graph.
Reagan was the first president that really allowed the Heritage Foundation to go wild.
There’s a good video about their history here: https://www.youtube.com/watch?v=8eeCPRD0Hgg
You should watch the documentary Bad Faith.
What do you have to say about this?
https://www.reddit.com/r/badeconomics/comments/6rtoh4/productivity_pay_gap_in_epi_we_trust/
These bits particularly stood out to me:
I think that even if every single assertion that person makes is taken, prima facie, to be completely 100% accurate and correct, it would still only modify my previous statement to “Our enemy is stagnant wages that - for the overwhelming majority of all workers - no longer rise in step with productivity.”
I’m really not clear on how that’s all that much of a difference. Good for the few people who lucked out I guess. The linked comment actually wraps up by saying the graph only demonstrates rising wealth inequality, which is, you know, the entire fucking point of the god damn graph, holy shit, where the fuck do they think people are claiming the lost wages went, into fucking space?!?!
I’d ask you if you rent or own your property. Are you able to buy as many groceries now as your parents could on similar budgets, inflation inclusive?
Because I know the answer, I’d suggest you look past statistics at this point and examine yourself and those around you, see if you’re able to accomplish more, or less, than your predecessors seemed to.
I have my biases and bents. I encourage you to do your own research and conclusions, vs parroting purported experts.
Gotta say, I’m not impressed with seeking anecdotal evidence being the go-to response.
What if I tell you “yes”? Somehow, I doubt your response will be to concede the argument.
Speaks volumes, that.
Does it?