I live in Germany.
Wages never rise because everyone falls for the propaganda that immigration is a "net positive" (and it is only a net positive for the capital-owning class who sell out their countrymen in favor of lower employment costs.) Do non-western immigrants in Germany contribute more in taxes than they receive in benefits (on average?)
Problem 1 is, no one is willing to pay goods at the price that would result from paying the required wage to get “native” workers.
Problem 2 is, there isn’t enough workers in a lot of professions. Raising wages isn’t going to make workforce appear out of thin air.
We waste an absolutely disgusting amount of absolutely everything that we produce. No one values anything, and everything is replaceable.
It's sad but I feel like a really and very hard depression would likely be the absolute best thing for this planet and our species in the long term. We are so fat and so lazy and so entitled. It's hard to imagine getting to a more efficient future without a hard cultural reset.
I hope I’m wrong but if not, we are on the path for shooting ourselves into oblivion in not so long. Planet will need a couple million years to recover, but I have good hope it will.