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80 sats \ 1 reply \ @ek 21h \ on: Pleb Economist #7: Talking Bitcoin with academic economists econ
But in a deflationary world you'd have to literally cut their wages every year, which will cause social unrest.
I think they implicitly assumed that the workers would still have the mindset of an inflationary world in a deflationary world. This isn’t necessarily true to the degree it would cause social unrest.
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0 sats \ 0 replies \ @SimpleStacker OP 20h
Yeah, there's definitely a present-day bias in their thinking
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