"in the long run, its really really hard to cut nominal wages. [without] inflation, a significant number of workers take wage cuts"
basically, inflation is a way to cheat all laborers out of their earned wealth so that the management class doesn't have to make hard decisions about who to keep.
https://archive.nytimes.com/krugman.blogs.nytimes.com/2010/0...
"in the long run, its really really hard to cut nominal wages. [without] inflation, a significant number of workers take wage cuts"
basically, inflation is a way to cheat all laborers out of their earned wealth so that the management class doesn't have to make hard decisions about who to keep.