So, I was talking to a co-worker about inflation, and we both agreed that we're not getting paid enough to keep up with the current standard of living and increasing prices for necessary items.
Insert our other co-worker who said if we increase wages, prices will also increase. I tried to explain to him why that isn't always the case, and he just did his little head shake thing that just screamed, “You are stupid.”
(How do I know this? His daughter, who also works in the building, has mentioned that he calls my policy/economic explanation idiotic when they are home).
Can anyone explain this to me in more detail so I can make better counter arguments?