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Apparently Wall Street bonuses have risen 1,217% since 1985. Quite what the significance of 1985 is I cannot tell, but the number itself seems to have the right feel. Having seen a few of those years first hand I can attest to the pace of increase from an anecdotal perspective.More importantly, if we applied the same rate of increase to the minimum wage over a similar period it would stand at per hour and not the current rather pathetic .25.…For conventional economists, the only actual inflation that needs to be considered is wage inflation (Phillips curve). The Radford Free PressInflation: Who Matters?Peter Radford
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Apparently Wall Street bonuses have risen 1,217% since 1985. Quite what the significance of 1985 is I cannot tell, but the number itself seems to have the right feel. Having seen a few of those years first hand I can attest to the pace of increase from an anecdotal perspective.More importantly, if we applied the same rate of increase to the minimum wage over a similar period it would stand at per hour and not the current rather pathetic .25.…For conventional economists, the only actual inflation that needs to be considered is wage inflation (Phillips curve). The Radford Free PressInflation: Who Matters?Peter Radford
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Apparently Wall Street bonuses have risen 1,217% since 1985. Quite what the significance of 1985 is I cannot tell, but the number itself seems to have the right feel. Having seen a few of those years first hand I can attest to the pace of increase from an anecdotal perspective.More importantly, if we applied the same rate of increase to the minimum wage over a similar period it would stand at $44 per hour and not the current rather pathetic $7.25.…
For conventional economists, the only actual inflation that needs to be considered is wage inflation (Phillips curve).