Re:The Evolving Economics of Bitcoin, Gold and Fiat Currencies
by sordidasset on Wednesday November 01, 2017 @07:55PM
(#15606623)
But the fed doesn't change the dollar's value in secret. Indeed, wages are worth less now, but it's not because employers are having back-room chats with the central bank.
Additionally, when the dollar was fixed on the gold standard, employers needed to be upfront and honest with their employees. When they needed to cut wages, employees knew it was happening. Much of the labor movement and union formation happened because employers needed to be honest about what they were doing.
I've yet to hear a convincing argument that inflation is good for me.