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Cant risk hurting profits
(lemmy.world)
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this post was submitted on 01 Dec 2025
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Deflation is actually pretty awful for everyone, it creates a negative feedback loop that results in widespread job losses. The Great Depression was largely driven by a deflationary spiral.
Robots/automatisation will also bring job losses in the future. And losing a job is not a bad thing, when you do still have the ability to live without it.
I think the real issue at hand is that people can't afford food without a job, and some have a hard time affording food even with a job.
This. It would hurt the average person, the average billionaire wouldn't be affected too much. What's necessary is a steady increase in the lowest wages.
Billionaires were literally created by inflation. It's why you invest with them.
Awful is subjective. There were still rich people during the depression.