Quote:
Originally Posted by bnorth
I honestly don't understand your stance on how wages don't directly affect inflation.  |
Take a look at the 1950s. A booming economy. The GI Bill sent vets to college or trade school. We built the US highway system. Schools, Hospitals. When Sputnik scared the shit out of us in 1957, we made sure that anyone bright enough, regardless of his/her ability to pay, could go to college. A single blue collar job could buy a house in the suburbs, a car, and support a family. And the rich paid their share.
There were innovators then, too, who started large companies. (But unlike Musk, they didn't buy already existing companies. They actually invented something.). Think Xerox. Polaroid. Univac. Intel.
But the CEOs of those companies--or any company, for that matter--didn't amass $500B fortunes.
What happened?
Greed.
But certainly not the greed of those at the bottom, who are just trying to exist.
Yeah. Wages affect inflation. But it's the wages at the top.