50 sats \ 0 replies \ @Undisciplined 11 Oct 2023 \ on: Wo Bitcoin - Are yo ready to put lower your wage? bitcoin
This is part of the "Sticky Wages" problem from gold standard times. The issue they were most concerned about was that recessions lasted longer because people resisted falling wages.
On a hard money standard wages can be pretty stable, because people become more productive over time.
I don't think people will get used to falling wages (they never have before), but they can get used to no longer getting cost of living increases if the cost of living stops rising.