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Peter Schiff
My goal is to educate my audience about free market economics and the principles and benefits of individual liberty, limited government and sound money.
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Peter Schiff
@PeterSchiff
May 24, 2022
🔴 The Devil Returns to Collect America’s Soul - Ep 813
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Hey Peter,
I decided to experiment with chat GPT for the first time a couple months ago(newer versions released since then) and I decided to ask it about inflation and you. Maybe you and some of the audience will get a good laugh... I'll try to post the whole conversation.
Explain to me, in 100 words or less why wage inflation isn't a real thing
Wage inflation is a real thing and it occurs when the average wages for workers in an economy increase. There are various reasons why wages may inflate, such as a tight labor market with more job openings than available workers, or increased productivity leading to higher economic growth. However, some argue that wage inflation is not a real thing, stating that the average wages for workers has not kept pace with overall economic growth. This is because of factors such as automation and globalization, which have led to increased productivity but not necessarily increased wages for workers. However, this argument is not widely accepted and wage inflation is considered a real phenomenon by most ...
