this post was submitted on 29 Jun 2024
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Capitalism and technology (lemmy.ml)
submitted 4 months ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 1 points 4 months ago (1 children)

There's one before that too:

Workers: well at least prices will go down in aggregate, so our dollars will be worth more due to deflation

[โ€“] [email protected] 1 points 4 months ago

Deflation is really really bad. On a societal level, if people expect prices to fall, they will withhold spending today in favour of tomorrow. This decreases demand, decreasing prices, accelerating deflation until collapse.