I was just kvetching about this to my partner over breakfast. Not exactly, but a parallel observation, that a lot of people are just kind of shit at their jobs. The utility tech who turned my tiny gas leak into a larger gas leak and left. The buildings around me that take the better part of a decade to build (really? A parking garage takes six years?) Cops who have decided it's their job to do as little as possible.…
I think it's inflation. And I don't just mean Covid era inflation. Inflation has been an on-again, off-again problem since the collapse of Bretton Woods. It's because of inflation that slowly and subtly, everything gets shittier all the time. It encourages businesses to cut corners, shave costs, and find cheap labor overseas. It encourages you to not give a fuck about your job because you haven't had a raise in 5 yea…
And all the reasons why economists say inflation is necessary and a good thing seem to make assumptions that aren’t true if taken to their logical conclusion (e.g. infinite growth) and hand wave away negative consequences in order to maintain what amounts to psychologically manipulating people into not saving their money.
Index all wages to inflation and we’ll see how much those holding all the assets feel about it.