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Alex 1 year ago
I understand how inflation devalues savings. The video makes a larger claim that people are getting payed less for their labor. How does that happen?

Replies (3)

As the supply of currency inflates, without a matching wage increase the workers are making proportionally less. Cost of living going up and peoples slice of the pie is getting smaller
People work longer for less. In Japan there is a culture of sa-bisu zangyou. People especially in small business / "black" companies, subsidiaries of larger companies are put under pressure to reduce cost and meet aggressive deadlines which leads to a culture of people staying late in the office and not getting paid for it. Bonuses are promised but often not delivered and people are just expected to suck it up and take one for the team.