Re:Have we been thinking about inflation all wrong?
by oonerspism on Friday February 11, 2022 @03:15AM
(#30298579)
The numbers were symbolic to illustrate proportional effect.
I'm not seeing a great deal of causation in your theory. The same amount of food is being produced, thus the same amount of work is done - so extra employees are not required. If anything, in your closed system theory, the food producer is going to laugh and pocket extra profits.
Re:Have we been thinking about inflation all wrong?
by TameAntelope on Friday February 11, 2022 @12:10PM
(#30303924)
The same amount of food is not produced, more food is produced because it's the only way the food company can keep up with inflation.
Re:Have we been thinking about inflation all wrong?
by oonerspism on Friday February 11, 2022 @04:47PM
(#30307402)
Who is buying and eating the extra food? Did human stomach volume increase proportional to inflation?
https://www.nzherald.co.nz/business/the-conversation-inflati...
Show me which countries have wage growth for lower socioeconomic demographics currently matching or outpacing CPI? It is not happening.
Also these numbers are super weird. It's probably more like $10 total daily food cost going up to like $10.30, and going from making $30/day (part time minimum wage) to $50 (near full-time minimum wage).