> inflation adjusted wages are actually up over the long term
Inflation is a tool for monetary policy. It doesn't track cost of living. For example, if luxury items become more affordable, but housing prices rise, inflation-adjusted pay doesn't capture this kind of negative effect on the working class.
Inflation is a tool for monetary policy. It doesn't track cost of living. For example, if luxury items become more affordable, but housing prices rise, inflation-adjusted pay doesn't capture this kind of negative effect on the working class.