You can't help soften the blow of inflation by giving people more money! That will just cause more inflation and make everything worse!

We've all heard it a thousand times, giving normal working class people, especially poor people, more money will only make everything worse by causing more inflation. Somehow this will leave the majority worse off than if nothing had been done.

This is considered common sense among liberal-conservatives but as leftists we instinctively know that it is bullshit. Maybe higher wages and benefits would increase inflation but the net total is that the working class would be better off than before.

Instinct is not a very convincing argument though so how do you argue the case against the wage inflation spiral to liberal-conservatives?

  • spectre [he/him]
    ·
    2 years ago

    Workers with high wages don’t need to take out as much mortgages and loans and are thus unprofitable to the financial capitalists.

    I see where you went with this in the next sentence, and agree with your overall point there, however I wanted to point out that high wage workers generally just end up qualifying for and taking out larger mortgages which drives property values sky-high. I think that what I'm saying is sort of irrelevant to your point though, cause under a more equitable economy then yeah people would be operating on credit less.