Comment on Switch 2 Sales Reportedly Struggled Over The Christmas Period
UnfortunateShort@lemmy.world 2 weeks agoIsn’t the Switch 2 is cheaper in today’s money than the PS3 was without a decade of inflation?
Comment on Switch 2 Sales Reportedly Struggled Over The Christmas Period
UnfortunateShort@lemmy.world 2 weeks agoIsn’t the Switch 2 is cheaper in today’s money than the PS3 was without a decade of inflation?
Lfrith@lemmy.ca 2 weeks ago
How relevant is inflation when cost of living has gotten so inflated that the idea of home ownership went the way of renting. So if anything in today’s money eating costs can hurt the wallet even more with how essentials are eating up more disposable income.
People bring up inflation as though salaries have kept up like NBA salaries have kept up due to their strong union. But, for every day people salaries have stagnated in relation to cost of property, rent, utilities, and food.
UnfortunateShort@lemmy.world 2 weeks ago
“How relevant is inflation, considering there is so much inflation that…”
echodot@feddit.uk 2 weeks ago
Inflation is the measure of how much buying power your money is worth. We just stagnation is we just not keeping up with inflation.
Wage stagnation isn’t a result of inflation because inflation happens first. So yeah when working out the equivalent price of a product inflation needs to be taken into account but so does how much money everybody has.
If $1 in 2005 is worth $15 today, but I still only get $6 an hour then it isn’t correct to say that a product that cost $15 today is effectively the same as a product costing $1 in 2005 because it’s not taken into the fact that I don’t get more money.