HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Explain This To Me Like I... » Reply #21

Response to HughBeaumont (Original post)

Mon Apr 27, 2015, 10:02 AM

21. We've been undervaluing inflation for decades

Consumer goods made by machines get cheaper. Real wages drop but you can still afford to fill your house with junk. You don't see how much earning power you've really lost until you try to buy something that can't be made by a robot or a third-world laborer, such as an education or a house or a hospital stay. Wages aren't just stagnant, they've been driven downward by a huge distance. They hide this fact by basing the inflation index on consumer prices for cars and TVs and stuff, which cost far less than they used to because it takes far fewer person-hours to make each unit than used to be needed.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 42 replies Author Time Post
HughBeaumont Apr 2015 OP
RiverLover Apr 2015 #1
lapfog_1 Apr 2015 #2
Taitertots Apr 2015 #3
AllyCat Apr 2015 #5
YoungDemCA Apr 2015 #28
Taitertots Apr 2015 #33
Dont call me Shirley Apr 2015 #4
Demeter Apr 2015 #6
HughBeaumont Apr 2015 #14
mountain grammy Apr 2015 #7
1StrongBlackMan Apr 2015 #19
Taitertots Apr 2015 #35
1StrongBlackMan Apr 2015 #37
Taitertots Apr 2015 #39
mountain grammy Apr 2015 #36
1StrongBlackMan Apr 2015 #38
mountain grammy Apr 2015 #41
randr Apr 2015 #8
appalachiablue Apr 2015 #25
annabanana Apr 2015 #9
Thespian2 Apr 2015 #10
appalachiablue Apr 2015 #26
Democat Apr 2015 #11
1939 Apr 2015 #12
jwirr Apr 2015 #15
1939 Apr 2015 #17
Demeter Apr 2015 #24
appalachiablue Apr 2015 #29
Cryptoad Apr 2015 #13
GoneFishin Apr 2015 #16
appalachiablue Apr 2015 #31
JayhawkSD Apr 2015 #18
F4lconF16 Apr 2015 #40
Calista241 Apr 2015 #20
LineReply We've been undervaluing inflation for decades
paulkienitz Apr 2015 #21
Skittles Apr 2015 #42
gordianot Apr 2015 #22
d_legendary1 Apr 2015 #23
Octafish Apr 2015 #27
HughBeaumont Apr 2015 #30
Octafish Apr 2015 #34
Sen. Walter Sobchak Apr 2015 #32
Please login to view edit histories.