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Author Topic: Deflation: Wage rates and the employee VS the Employer  (Read 5042 times)
SgtSpike
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June 22, 2011, 10:20:28 PM
 #41

No, it would make it enticing for an employer to lower your wage.

If bitcoins increased in value by say 10% a year, then that would likely be directly added to the employee's contract.

We pay you X, decreasing at 10% per year.  A raise would be where they don't drop it.
It doesn't even have to be in a contract.  As long as the employee understands that the employer will have to drop their wage from time to time in order to match deflation, then both parties should be satisfied.  If the employee doesn't like the wage decrease at any time, they can go find a different job.  But any other job will likely be paying what the wage was decreased to anyway.
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kjj
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June 22, 2011, 10:56:31 PM
 #42

I don't think contracts promote career longevity. If your employees contract is up every year if gives your employee the chance to look for other jobs.
 
And given my example I think my question was very specific. Deflation will cause you to get over paid for a job over time, making it enticing for an employer to fire you and hire someone else on for a lower price. 

I ask again.  Why is it that you think that standard of living adjustments can only go in one direction?

You think that deflation will lead to overpayment, but don't believe that inflation leads to underpayment.

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NoodlesJefferson
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June 22, 2011, 11:12:56 PM
 #43

I believe they can go either way.

Now, I'll ask you, why would an employer decide to pay you more if the purchasing power of your wage is worth more and more every year?

I believe that they wouldn't in a deflationary economy. They would either fire you and hire someone cheaper or want to pay you less.

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June 22, 2011, 11:51:59 PM
 #44

I believe they can go either way.

Now, I'll ask you, why would an employer decide to pay you more if the purchasing power of your wage is worth more and more every year?

I believe that they wouldn't in a deflationary economy. They would either fire you and hire someone cheaper or want to pay you less.
You are exactly right.  So what is your point?  It doesn't add anything to job instability.
NoodlesJefferson
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June 23, 2011, 12:08:17 AM
 #45

lol ... they would fire you. That's job instability.
kjj
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June 23, 2011, 12:12:50 AM
 #46

lol ... they would fire you. That's job instability.

Or pay you less (in nominal terms).  How do you keep forgetting this option?

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NoodlesJefferson
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June 23, 2011, 12:14:54 AM
 #47

lol thanks for reminding me. i totally forgot. phew. question answered.
kjj
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June 23, 2011, 12:37:26 AM
 #48

Is this some new form of trolling?

Step 1) You keep asking the same question.

Step 2) We keep giving you the same answer.

Step 3) You always acknowledge our answer.

Step 4) You apparently forget that wages can go down, and return to step 1.

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SgtSpike
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June 23, 2011, 12:38:10 AM
 #49

lol thanks for reminding me. i totally forgot. phew. question answered.
I'm glad we got this straightened out.
NoodlesJefferson
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June 23, 2011, 12:41:50 AM
 #50

I DON'T KNOW WHAT WE'RE YELLING ABOOOUT!
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