Its not only inflation but the Consumer Price Index you really have to worry about. They often gloat about Denmark, where they pay 2x more for a car, 3x more for food and 4x more for housing. So in reality doubling someones salary to $15 could effectively make them poorer than keeping them at $7.50 and leaving consumer prices where they are at.

Its not only inflation but the Consumer Price Index you really have to worry about. They often gloat about Denmark, where they pay 2x more for a car, 3x more for food and 4x more for housing. So in reality doubling someones salary to $15 could effectively make the poorer than keeping them at $7.50 and leaving consumer prices where they are at.