I'm not an economist, but that outcome doesn't seem likely to me? If prices rise because people are working less, then people will work more so they can afford the new prices, putting us back where we started (with inflation).
Meanwhile there's so many other effects on the economy that make it hard to predict how it would play out (and wh…
I'm not an economist, but that outcome doesn't seem likely to me? If prices rise because people are working less, then people will work more so they can afford the new prices, putting us back where we started (with inflation).
Meanwhile there's so many other effects on the economy that make it hard to predict how it would play out (and which weren't tested in this study):
- it eliminates the need for a minimum wage, opening up new types of employment
- it gives workers more bargaining power
- makes it easier to have children, who will grow up to contribute to the economy
- allows people to take risks in their careers
- allows people to spend time on things that they value, but which money doesn't buy
I'm not an economist, but that outcome doesn't seem likely to me? If prices rise because people are working less, then people will work more so they can afford the new prices, putting us back where we started (with inflation).
Meanwhile there's so many other effects on the economy that make it hard to predict how it would play out (and which weren't tested in this study):
- it eliminates the need for a minimum wage, opening up new types of employment
- it gives workers more bargaining power
- makes it easier to have children, who will grow up to contribute to the economy
- allows people to take risks in their careers
- allows people to spend time on things that they value, but which money doesn't buy
- etc