Btw, typically economists talk about leftward and rightward shifts, it’s a bit more precise than “out” and “in”

Deflation also causes a decline of wages. So while what you’re saying is technically true, it’s not applicable to everyone in the economy.

Deflation doesn’t cause a decline in wages, what you’re referring to is demand side deflation. Say in a recession the demand for widgets falls, so the workers producing these widgets see their wages decline, all things constant.

Supply side deflation ends up raising real incomes, for obvious reasons.

When short run aggregate supply shifts right, what happens to the price level?

Falls.

This is pretty good, as it’s economic growth.

And what impact does that have on wages?

Rise.

Wages don’t rise when the price level falls

Have wages been falling for people in the computer industry? The prices of those have been falling too.

I don’t know what’s happened to real wages in the computer industry

So I can’t comment

As workers get more productive, they’re able to produce more obviously. Causing a reduction in the price of such goods - but also an increase in wages.

Since workers are paid on their marginal product, both wages and prices rise/decline respectively.

This is the case for oil prices now, the supply curve will shift out causing a reduction in prices; a rise in real income.

Deflation refers to price deflation.

Yeah you might also be thinking of monetary deflation too, this is a reduction in the money supply. @abby_ella - not relevant here.

Hapakala donut

We're heading into a recession and the reason is depressed demand, for oil and everything else except hand sanitizer

GG @DrYuriMom, you just advanced to level 7!

I don't have or want to debate it endlessly. We'll see it and so there's no point.

I can agree with this statement, your actually right.

@DrYuriMom We aren’t heading for a recession.

The stock market dropping isn’t indicative of a recession because: the oil prices falling are due to an increase in supply - this is actually beneficial for the economy.

*was dropping

imagine taxing the rich

They are people too, they need to be taxed

Like everyone else

I'm sure SINT will poo poo this, but I'll post it

https://www.nbcnews.com/business/economy/dozen-years-after-2008-recession-different-kind-debt-threatens-world-n1151801

https://www.ft.com/content/27cf0690-5c9d-11ea-b0ab-339c2307bcd4

Hey can any ancap explain to me how money would work if there would be no government to print it or anyone to regulate illegal printing.

Just curious thats all.

GG @ᴏᴠᴇʀꜱᴇᴇʀ ꜱᴛʀᴀꜱꜱᴇʀ, you just advanced to level 2!

Shoot anyone with to much money

GG @Deleted User, you just advanced to level 15!

Trade one of your child slaves for a 7.62 and blow their fucking head off

But do it from a distance, don’t get to close to their property or everyone else will blow your fucking skull in for tresspassing

Remember

If any of his property gets on your property thats a violation of the NAP