i.e. the three most necessary things.
if you weight inflation baskets by how discretionary the spending is i dont think wages are higher. theyre much lower. you cant live in an iphone but you can easily live without one.
if you weight inflation baskets by how discretionary the spending is i dont think wages are higher. theyre much lower. you cant live in an iphone but you can easily live without one.
This has been called in-deflation or disinflation and has been the dominant paradigm since the turn of the century, at least in the US and much of the developed world.
The terminal end state of the disinflationary economy is desperate people living check to check but carrying supercomputers with instant access to all knowledge and all media in their pockets.
Wages have risen a bit lately (in real terms even after inflation) but not nearly enough to undo 20 years of the above pattern.
Interesting claim.
Eye, people who are sick and uneducated are very employable, have good prospects in life
> Food, water, and clothing are cheaper than eve
yes and no, we prodyce loads of unhealthy food cheaply, you wont starve. Fresh produce costs, organic, ethicslly farmed stuff us really expensive. The latter is probavly a closer comparison to food as it was produced in good old days
Just think of the settlers that came over the Oregon Trail, not that long ago. Where was their tuition and health care?