#[1] what would your response be to a person that says living in a Gold Standard, or even BTC Standard, would result in wages needing to be cut? My thought is that even if wages did go down in sticker number, the value would be worth more… and a natural market equilibrium would be found. And one could actually save in this environment without losing stored value.
This is correct. Wages would generally decrease but because wages are sticky…at a slower rate than prices fall.
Please Login to reply.
No replies yet.
