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I suspect wages would simply get repriced more often
Maybe so, but supposedly employees really didn't like this state of affairs in the late 19th century.
That's a fair point. I think the hard part may be less the economics and more getting people comfortable with seeing the nominal number go down, even if purchasing power stays the same or improves.
That probably wouldn't change overnight.
Maybe so, but supposedly employees really didn't like this state of affairs in the late 19th century.