{"ok":true,"trend":{"id":648641,"platform":"mastodon","region":"global","key":"justin wolfers on money illusion. upon hearing of a two-percent faculty pay rise in an inflationary economy: \"nobody sto","title":"Justin Wolfers on money illusion. Upon hearing of a two-percent faculty pay rise in an inflationary economy: \"Nobody sto","url":"https://hachyderm.io/@rationaldoge/117367476837489340","first_seen":"2026-10-01T20:13:18.165957Z","last_seen":"2026-10-02T04:29:45.516608Z","last_rank":12,"peak_rank":12,"last_volume":2,"peak_volume":2,"seen_count":5,"score":0.85578125,"category_hint":"economy","section":"business","category":"economy","summary":"Economist Justin Wolfers is commenting on a two-percent faculty pay raise announced during an inflationary period, calling it an example of money illusion. He notes nobody pointed out the raise actually amounts to a cut in real wages, weakening purchasing power, admitting he did not speak up either. The anecdote is being shared as a lesson in how nominal raises can mask real losses.","why":"Inflation remains a live concern, making examples of how people misjudge real versus nominal pay gains resonate.","tone":"neutral","entities":["Justin Wolfers","faculty","money illusion"],"summarized_at":"2026-10-02T03:08:24.361577Z","meta":{"tag":"inflation","via":"scan","kind":"status","lang":"en","instance":"mastodon.social","tag_uses":27},"nw":null,"promo":null,"kind":null,"importance":null,"hidden":false,"hide_reason":null,"judged_at":null,"title_en":"Economist Justin Wolfers flags money illusion in faculty pay rise","section_name":"Business","category_name":"Economy","timeline":[{"captured_at":"2026-10-01T20:13:18.165957Z","rank":12,"volume":2},{"captured_at":"2026-10-01T21:35:18.238537Z","rank":12,"volume":2},{"captured_at":"2026-10-02T01:41:17.185904Z","rank":12,"volume":2},{"captured_at":"2026-10-02T03:06:45.117201Z","rank":12,"volume":2},{"captured_at":"2026-10-02T04:29:45.516608Z","rank":12,"volume":2}],"posts":[{"platform":"mastodon","url":"https://hachyderm.io/@rationaldoge/117367476837489340","author":"rationaldoge@hachyderm.io","title":null,"snippet":"Justin Wolfers on money illusion. Upon hearing of a two-percent faculty pay rise in an inflationary economy: \"Nobody stood up and said, 'Hang on, you're boasting about cutting our real wages and our ability to buy stuff.'\" \"I'll be honest: I didn't say it either. I'm an…","posted_at":"2026-10-01T20:12:51Z","likes":2}],"elsewhere":[],"window":"7d"}}