[snikeris]

Hmm...how about: inflate the supply of labor, price of goods goes down and better goods are invented, then average working stiff benefits when buying these goods?

I understand your point that the average working stiff might experience wage loss or lose their job altogether, but I'm not sure you're considering the benefits to consumers, which is another role of the average working stiff.

[bdcs]

Wages and salaries (and, perhaps, prices) would not go down. Your argument and the parent of it, is falling for the lump of labor fallacy. By adding supply of labor, the demand for labor goes up as well. It is actually well-agreed on by economists, but I see many smart people, on the left and right, get it wrong.

I implore you both to read and listen about it (google/"lump of labor").

[rileyphone]

That's the entire point of the real wages statistic: the price of goods has remained relatively pinned to wages since that point.