Turquoise wrote:
Tuition has risen because our public universities are run like businesses rather than public amenities.
Inflation has outpaced wages partially because of globalization and partially because of public debt.
I addressed tuition...
Inflation is built into the central banking system by design. If there was no inflation (or heaven forbid, deflation
), people could make a pile of money in their twenties and sit on it till the day they die. Inflation forces skilled labor to stay in the labor pool until they retire or else watch their money slowly vanish over time. This is why every central bank in the world defines between 1 and 2% inflation as ideal. It ensures that the value of money halves every fifty to one hundred years. The corollary to this is it destroys family fortunes and 'levels the playing field'.
Inflation not keeping pace with wages is actually a myth. Wages have kept pace just fine. And no, the middle class is not shrinking, it's expanding.