Episode 280: The End of the Experiment in Unlimited Government
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Will Wages Rise With Inflation?
The vast majority of people, if they were told they're getting a 10% salary cut, would go look for another job immediately. But all the same forces are at play for those other jobs too. It's the same everywhere. Now, will wages rise eventually? Yeah, they tend to rise with inflation as well. But you're talking about a lag here. You're not going to get 9% right now. You might have to wait till next year. Meanwhile, you're out the equivalent of $6,000. Why is that? Well, your employer doesn't have the money either. See, now all these people say, well, we need government to fix this.
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