But this only works if wages decrease at the same rate as goods.
If wages decrease slower than prices then the standard of living goes up.
Real wages for nonsupervisory workers have been decreasing since 1973.
In the 1970s, men's wages decreased and women left home earlier to find jobs.
In the 1970s, however, this reversed and real wages decreased.
Inflation did not rise significantly, but real wages decreased.
My daughter's wages have steadily decreased over the years.
The depression of 1915 forced sizeable wage decreases on the union.
A higher minimum wage would not decrease the amount of work that needs to be done.
The argument that minimum wages decrease employment is based on a simple supply and demand model of the labor market.