I like how this article does not talk about the anti consumer practices engaged in by Nintendo, that might push some customers away from their consoles. /s Nintendo can disable your Switch 2 for piracy in the U.S., but not in Europe, as confirmed by its EULA. There is already a switch in my household, but the price along with the ability to remotely brick the device, is what made our household pass on the switch 2. We bought a second steam deck instead.
How relevant is inflation when cost of living has gotten so inflated that the idea of home ownership went the way of renting. So if anything in today’s money eating costs can hurt the wallet even more with how essentials are eating up more disposable income.
People bring up inflation as though salaries have kept up like NBA salaries have kept up due to their strong union. But, for every day people salaries have stagnated in relation to cost of property, rent, utilities, and food.
“How relevant is inflation, considering there is so much inflation that…”
Inflation is the measure of how much buying power your money is worth. Wage stagnation is wages not keeping up with inflation. They are not the same thing.
Wage stagnation isn’t a result of inflation because inflation happens first. So yeah when working out the equivalent price of a product inflation needs to be taken into account but so does how much money everybody has.
If $1 in 2005 is worth $15 today, but I still only get $6 an hour then it isn’t correct to say that a product that cost $15 today is effectively the same as a product costing $1 in 2005 because it’s not taken into the fact that I don’t get more money.