I've been doing something similar, related to Mars colonization. It helps me think through the establishment of an ecosystem, while I'm sure being horribly oversimplified.
The takeaway is probably correct. We don't really know much about how sticky wages actually are or what adaptations the labor market would make. I wrote a post about this a few days ago, if you're interested.
Great! You've reached some extraordinary conclusions. I am adding some parameters to my brain exercise. I am definetely coming to interesting conclusions that I will share in a following post. Thank you for sharing it.
I've been doing something similar, related to Mars colonization. It helps me think through the establishment of an ecosystem, while I'm sure being horribly oversimplified.
The takeaway is probably correct. We don't really know much about how sticky wages actually are or what adaptations the labor market would make. I wrote a post about this a few days ago, if you're interested.