> Then we'll just remark "wow, we still need to keep working because the cost of living has really gone up!"
Historically we've said "our standard of living goes up if we keep working!" and kept working. If you're happy to live to a 1700s standard life today you can probably get away only doing a little work every year. In practice people value free time less than improving their material circumstances.
> Yet somehow the prices keep rising.
There is an official government policy in all the English speaking countries I know about that every year prices should rise exponentially. I'd tag that as the most likely reason prices keep rising. It is surprising people don't point at it more often when prices rise.
Historically we've said "our standard of living goes up if we keep working!" and kept working. If you're happy to live to a 1700s standard life today you can probably get away only doing a little work every year. In practice people value free time less than improving their material circumstances.
> Yet somehow the prices keep rising.
There is an official government policy in all the English speaking countries I know about that every year prices should rise exponentially. I'd tag that as the most likely reason prices keep rising. It is surprising people don't point at it more often when prices rise.