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Ah, a good old bit of anecdote to make a case. My son is at home, as his teachers on strike. There are no lessons going on at his school. Therefore, all teachers are on strike and all schools are closed :dunce:

You are rejecting the longstanding distinction in economics between real and nominal values. You can easily search what's meant by it online. Here's the clearest and most succinct for you: Two ways of expressing monetary values: nominal values are measured in current prices while real values...

Is what's informing your view: -- a critical rejection of the notion of 'the real' or reality (which is a feature of many philosophical positions) -- a rejection of the long-established distinction between 'real' and 'nominal' in economics -- something else? I'd also be grateful for a brief...

You're being very persistent and have divulged you have a working background in this area. Given that, I'm struggling to understand why you think a nominal pay 'rise' that is below inflation is anything other than a real-terms pay cut. I'm not sure there's a way around this, but interested to...

That's been road-tested for a good while now