Yep gold standard was good till Nixon fucked it all. France didn’t want USD anymore and wanted to exchange it.

America ended up stealing from any country held USD when this happened and America profitied big time

Yes there are more factors but wages are directly tied. And when you have people at the top syphoning off the profits of 10-50 people that is where the real damage begins.

That person now is able to dodge taxes, move money to offshore accounts they go to different countries to buy yahats, properties, etc

Also, in Canada we have nationalized electricity production. We get lifers and after 30-40 years these people are doing less work and getting paid more and every year they get wage increases.

Also the more you make the less if an increase you need to survive off