this post was submitted on 19 Dec 2024
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Antiwork
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A community for those who want to end work, are curious about ending work, want to get the most out of a work-free life, want more information on anti-work ideas and want personal help with their own jobs/work-related struggles.
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Date Created: June 21, 2023
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The Anti-Work Library 📚
Essential Reads
Start here! These are probably the most talked-about essays on the topic.
- The Abolition of Work by Bob Black (1985) | listen
- On the Phenomenon of Bullshit Jobs by David Graeber (2013) | listen
- In Praise of Idleness by Bertrand Russell (1932) | listen
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I may not be an expert, but I do have a minor in economics, so I have a basic understanding of the math behind it. And you aren't going to convince me that math and statistics aren't real.
One thing I would point out is gold is inherently deflationary, because the money supply can't grow with the economy.
It's not as simple as more dollar bills=inflation, less dollar bills=deflation. For one thing, if the population grows and the money supply doesn't, everybody has less money. Also, if we have a recession and people stop spending money as quickly, the money supply goes down. Interest rates effect money supply as well. There are a ton of factors. This is not propaganda, it is basic math.
Based on your argument, do you really think someone making minimum wage in 1968 had the same purchasing power as someone making 250k in 2024? This is absurdly false.
I agree with you that the system is broken, but your numbers are completely meaningless.
Economics is a made up science the only purpose of which is to defend the exploitation of others through capitalism at all costs.
From 1945 till 1975 one adult working a full time minimum wage job could support a family of four with enough left to save for retirement, their children’s education and enjoy a modest yearly family vacation. How much money today would it take to earn the same quality of life? Maybe you can get there with $150,000 but families of 4 with 2 adults working full time and earning $30 an hour each thats barely scraping by at $124,000(pre taxes and dedictions)
I saw an msnbc article about abyear ago that i wish i saved because i could never find it again but the article gave the amount of money whomever wrote it had estimated one needed to earn anually to be middle class with a family of 4 today and middle class means you can afford a yearly vacation and lived to the same standard of life people had 75-40 years ago the number was just under 200,000 and this was when gold was just under $2200/ ounce so it pretty much added up to my math within a few thousand dolars. So this is why i think someone making minimum wage even in 1956 till 1971 had mucu more purchasing power, you could huy a house for $7500 or even less if you found a fix me up (my grandfather bought a house they were going to burn down in providence rhode island for $2700 in 1955) but today the median house in the usa costs over $400,000
Paper money is worthless. We only give it value because ultra wealthy people tell us to. But the reality is that every currency in circulation is inextricably tied to the price of gold. Also when you look at the exchange rate between any two currencies you will see they all add up to whatever the price of gold is. For instance if a gbp was equal to $1.30 per 1£ then an ounce of gold in £ will be 10/13 of the price of gold in usd.
Also printing money is inherently inflationary
Lol economics is a made up science? What does that even mean? You are literally talking about economics right now. As long as money exists in any form, economics is real.
And we usually think about inflation in terms of purchasing power... How much can I buy with my paycheck? Not in terms of the value of some arbitrary element whose value is based entirely on speculation.
Also, let me repeat this again: the money supply is not literally the number of dollar bills (or gold nuggets or whatever) in circulation. It is only one of many factors.
For example: if a dollar bill changes hands 3 times in a year, it adds $1 to the salaries of 3 different people. That's $3 added to the money supply. That isn't propaganda, that is a factual mathematical truth.
Just because you don't understand economics doesn't mean it's not real.
https://evonomics.com/pretending-hard-science-ethics-free-julie-nelson/