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As I understand it, real wages do increase over time , as an economy grows and productivity increases. If this is the case , why can we not all afford to buy very expensive goods / services in 50 , or 100 years time ? It can not be because of inflation as by definition real wages have factored inflation in.

 

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9205529

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