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Kinda surprising that the average ability of money to motivate people is falling even among poor people. And it doesn’t seem to be a function of handouts/extended generous unemployment benefits. People at all levels are re-evaluating their relationship with money at least in US🤔
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I think a lot of this is bad statistics and media feeding in itself discussing a trend the evidence doesn't bear out. Labor participation rate remains pretty solid considering several big industries being decimated and ongoing supply chain disruptions.
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The fact that wages aren't budging is the main thing convincing me the market expects this to be transient, only well off professional workers really have the luxury to be reevaluating their relationship with money right now, everyone else is going to get dragged back in.
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