This is Democracy – Episode 202: Inflation
This is Democracy
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Is Wages a Driver of Inflation?
Wages can be a driver of inflation, but if they lag behind inflation and real wages are falling then one has to say that wages are adjusting to inflation. In general right now, not in the US and not in Europe, are we seeing wages as a major driver because in both parts of the world, real wages are actually falling. So workers are failing to catch up with the price increases. But what does hurt me is the fact that my mortgage costs more or food costs more than before. This is going to go on for some time - it was never meant to be this way. And most people will shrug and say, well, I wasn't at any risk of being unemployed anyway
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