this post was submitted on 30 Dec 2023
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[–] LibertyLizard@slrpnk.net 3 points 10 months ago* (last edited 10 months ago) (2 children)

In the current economic system, widespread lowering of prices is considered to be harmful. So it’s not really possible without major economic reforms. Best solution is to increase wages/income to offset higher prices.

[–] MaxHardwood@lemmy.ca 7 points 10 months ago (1 children)

boo-hoo. Profits are not guaranteed.

[–] LibertyLizard@slrpnk.net 0 points 10 months ago

Not really the issue. Deflation is a transfer of wealth from debtors to creditors which is not necessarily healthy. It also encourages hoarding money which can cause job losses.

[–] bobs_monkey@lemm.ee 1 points 10 months ago

The only way a legislated raising of wages works is by initiating price controls, otherwise corps can and will raise prices to protect profits