{"type":"rich","version":"1.0","title":"Laeserin wrote","author_name":"Laeserin (npub1m4…jc2jl)","author_url":"https://yabu.me/npub1m4ny6hjqzepn4rxknuq94c2gpqzr29ufkkw7ttcxyak7v43n6vvsajc2jl","provider_name":"njump","provider_url":"https://yabu.me","html":"Switching wouldn't drive up wages that quickly, as those are contract-based (sticky and slow to change) and employers can respond by increasing automation or relocating production.\n\nBut it tends to immediately lower costs and spending for each household, which would quickly have a deflationary effect on consumer goods pricing, which would reduce the income needed, which would again drive down prices...\nDeflationary spiral.\n\nWould probably also lower public outlays, for instance, for after school programs and childcare subsidies, health and medicine, and etc.\nAnd expand the possibilities for where one family can live and work.\n\nSo, that would be 3 deflationary effects.\n"}