▲ | saubeidl 6 days ago | |||||||
> But if the rich get 10X richer, and the poor get 2X richer, then everybody is better off. If the rich get 10x richer, prices will rise by more than 2x, leaving everybody but the rich worse off. | ||||||||
▲ | FredPret 6 days ago | parent [-] | |||||||
These numbers are always given on a "real" basis, accounting for inflation. Inflation is hard to measure because products get better and houses get bigger over time. But by every measure I've ever seen, purchasing power per hour worked has been going up exponentially or at least geometrically for 200 years now. If you don't believe this, the World Bank, the IMF, and the US Federal Reserve publish reams of statistics about it. | ||||||||
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