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dnauticstoday at 4:29 AM1 replyview on HN

this is just a regular reminder that this is by design.

https://archive.nytimes.com/krugman.blogs.nytimes.com/2010/0...

"in the long run, its really really hard to cut nominal wages. [without] inflation, a significant number of workers take wage cuts"

basically, inflation is a way to cheat all laborers out of their earned wealth so that the management class doesn't have to make hard decisions about who to keep.


Replies

mritterhofftoday at 5:31 AM

That might be a side effect, but I'm doubtful it's the cause.

The main cause as I understand it is that the govt prints money to offset the gap between what it collects in taxes and what it spends.