Inflation refers to the increase in the monetary supply without at least a corresponding increase in the available amount of goods and services. It’s this increase (inflation) in the monetary supply that causes the increase (inflation) in prices.
Your are not engaging the substance of the discussion, as much as reiterating explanations you have encountered in other contexts, and which you have not understood adequately to apply more generally.
We can try another approach.
A living wage is an income that supports a particular standard of living considered socially as an acceptable base. Therefore, the nominal value for the living wage at any time will depend on the price of goods.
Even if the price of goods rises, that is, if inflation is occurring, there will always exist some nominal value suitable to be considered the living wage. Anyone who has an income equal to or greater than the value, at some particular moment in time, will have, at the particular moment, a living wage.
The nominal value of the living wage is not fixed, but rather adjusted over time.
Therefore, a living wage and inflation are not incompatible.
From a response I wrote to another commenter:
Your are not engaging the substance of the discussion, as much as reiterating explanations you have encountered in other contexts, and which you have not understood adequately to apply more generally.
We can try another approach.
A living wage is an income that supports a particular standard of living considered socially as an acceptable base. Therefore, the nominal value for the living wage at any time will depend on the price of goods.
Even if the price of goods rises, that is, if inflation is occurring, there will always exist some nominal value suitable to be considered the living wage. Anyone who has an income equal to or greater than the value, at some particular moment in time, will have, at the particular moment, a living wage.
The nominal value of the living wage is not fixed, but rather adjusted over time.
Therefore, a living wage and inflation are not incompatible.
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