People are not far wealthier today, they are far poorer, through debt, as a result of devaluation, which takes the form of credit cards, mortgages, auto loans, student loans, etc. The devaluation of paper money affects everything, not just salaries and savings, but also the price of goods, but ultimately salaries and savings do lag behind devaluation, which is why prices of goods slowly rise at a faster rate than salaries and savings, thus causing the inhabitants of the world to enter into debt. It's the very explanation of why there is a debt crisis in America, because of the form of money we have today. If someone saved $10,000 USD 20 years ago, that money would buy much less today. And in likewise manner, the rate that minimum wage is increased every so often buy less and less, hence "lags behind the devaluation". Why do you think people go on strikes demanding minimum wages be increased? Because minimum wages buy less and less and lag behind the devaluation. All of this is very obvious to the person that understands the evil that is committed through fiat currency, but to the person that refuses to perceive this, this is all just the mere status quo of daily life. He knows nothing and perceives nothing.