Why would working 8 hours earn you less next year? Are you assuming wages remain constant? They're supposed to grow at a greater rate than inflation.
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Well, because it just isn't the case? Wealth ≠ wages, and while you can convert, the conversion is lossy (so for example we pay interest on loans). If I just wait (and do nothing), it will be more expensive next year, and my wealth hasn't increased.
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