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As inflation increases and the value of the dollar continues to tumble the amount of money that the company you are working for is paying you is worth less and less. This reality hit me for the first time last month when after recently starting a new job I realized that the money I agreed to get paid to work for them for was now worth less than when I had started only a month previous.
At times like these when inflation runs rampant, companies raise prices on goods and services to ensure that they aren’t losing anything. What they do not do however is raise the wages of their employees accordingly. So these big corporations end up making even more profit than before while people like you and I only grow poorer and have less buying power. Now it is true that there are many companies that are struggling to make a profit just as individuals are right now but in some sense that just proves that raising prices with inflation only serves to keep lower income families from spending money on their goods or services.
Don’t expect it to ever be a reality but a if any nation were ever to have a fair wage system it would include wages that fluctuate with the value of whatever the currency of that nation is.