this post was submitted on 19 Sep 2023
2385 points (97.5% liked)

Work Reform

9993 readers
137 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

Our Goals

founded 1 year ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 6 points 1 year ago (1 children)

This is just plain wrong. The majority of people don't get to "decide" to spend/save, they live paycheck to paycheck. The people that can make that decision are actually incentivized to NOT spend but to "invest" (aka loan) because interest rates are higher, and thus get better returns.

Inflation is really a wealth transfer from the poorest to the wealthy since wages don't keep up with inflation.

Now you can figure out why deflation is considered a bad thing by mainstream media.

[–] [email protected] 3 points 1 year ago (1 children)

Most of the time most wages do keep up with inflation. Minimum wage should in a reasonable country as well. Also, most people can totally defer spending some money. Not for food and rent and other necessities, but for other things, like getting your car fixed or things like that that can be pushed off for later.

[–] [email protected] 2 points 1 year ago (1 children)

Ignore rent inflation and sure, wages are keeping up 😅

[–] [email protected] 2 points 1 year ago

True, yeah. Rent inflation is making things real bad. The past little while almost no wages have kept up with regular inflation even. Generally though, most wages have kept up with both, but recently in particular things have gotten fucked.