pull down to refresh
32 sats \ 5 replies \ @User21000000 2 Oct \ parent \ on: Wage Stagflation: The Government’s All-Out War on the Middle Class econ
How does bitcoin fix this?
When we had a less inflationary currency people did stay in their jobs long-term and were able work their way up in the same organization.
Inflation puts a lot of pressure on employers to keep their variable costs down, which means being reluctant to grant raises. Inflation also stresses employees' household budgets, which means needing more frequent raises than under a sound money.
reply
But you would still need to job hop as if you didn’t your btc earnings would be less then there’s as they jumped and negotiated a better btc pay rate? Couldn’t see it swapping back even if the money was changed to a sound btc system
reply
Wages are "sticky", so if your money is depreciating, your wages will rise slower than the purchasing power erodes. The flip side is that if your money is appreciating, your wages will fall slower than the purchasing power rises.
reply
Then after that if the power is rising it will be more a case of greed or comparison that will drive people to hop jobs to earn more of that good money
reply
Yeah, there will always be potential income gains from job hopping, but if we had sound money people wouldn't have to do that just to maintain their standard of living.
reply