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411 sats \ 0 replies \ @elvismercury OP 17 Nov 2023 \ parent \ on: _Broken Money_ book club, part 4 bitcoin
The loss aversion is super primal, so if wages stopped being sticky it would be against the countervailing force of that. But this:
That's super interesting! You can imagine there being a force in the direction of shorter and shorter term contracts, to deal with this issue. But [yet another] countervailing force of the transaction costs inherent in having to train a new person on your thing.
Man, Coase keeps coming up today.