Using the word "deflation" like it's a bad thing for citizens to be able to afford the things they need to live. That's capitalist propaganda for you. We're only happy when the blessedly wealthy get to have a good life.

[–] avidamoeba@lemmy.ca 12 points 1 year ago* (last edited 1 year ago) (1 children)

So long as unemployment stays relatively stable, deflation might be a good thing for us. If unemployment rises significantly as a result of deflation, then the discounts we'd get might not be worth the lost income. Since employers control employment in the lack of unions, they hold the power to remove income from workers to offset the falling profits that result from deflation. I wouldn't mind extra deflation if I lived in a union country.

[–] silly_crotch@sh.itjust.works 6 points 1 year ago

Youth unemployment is already really high in China. With deflation, you could expect unemployment to also rise in other age groups.

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