Oddbean new post about login | logout Well, when running a business you will have to lower prices and face deminishing income for one.
How does lowering prices hurt if it doesnt affect your purchasing power lol god forbid workers not have to fight for raises to keep up with inflation that theyre rarely able to keep up with
As a business you need to have income to cover expenses like the investments that you made to get the business started in the first place.
And as a business, if your treasury gets more valuable then thats good. I dont understand how income just vanishes if money isnt losing value lol. People are still going to spend
What's a "treasury". A business' assets is stuff that it owns to make products and render services. People are going to spend, but spend less. Just running a business is a great way to verify one's ideas btw. Strangely everyone here has great theories and predictions about Bitcoin but none of these people actually run a business based on Bitcoin. Except for nostr:nprofile1qqs99d9qw67th0wr5xh05de4s9k0wjvnkxudkgptq8yg83vtulad30gpzpmhxue69uhkummnw3ezumrpdejqz9thwden5te0dp5hxapwdehhxarj9ekxzmnyqyv8wumn8ghj7un9d3shjtnwdaehw6r9wfjjucm0d5eechmk who at least tried and faced with deflation started calling his customers "wet wipes" because they were willing to pay less and less.
Like most people here you're arguing from the point of the consumer. But lower prices across the bank will mean lower prices that workers can demand for their labor too. I.e falling wages.
Nominally, sure. Still puts the worker at an advantage that they didnt have though. An employer has to justify paying you less, instead of you having to justify getting a raise. Ill take making a lower number if my purchasing power is mostly not affected though lol