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Originally Posted by ssp
An economy would simply fail with maximum wages because you cap peoples buying power, means whichs the circulation of money will be less and slower.
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ssp <3 :]
The minimum wage concept, it is believed, can help limit the possibility of deflation of a currency or overall economy. Similarly, it is believed that a maximum wage could limit the possibility of inflation of a currency or economy. This is achieved by the creation of a relative economic bar; meaning that any given economy, relative to its working populace, cannot inflate past the point of the relative maximum wage or deflate past the point of the relative minimum wage. Therefore, the economy effectively hovers between points of inflation and deflation. It is argued that the working populace in an economy that has both a minimum and maximum wage is, therefore, bound to live in the middle of the two economic wage points. This, supporters argue, is advantageous due to the fact that most historians agree that strong economies are supported by a strong middle class.
from wiki
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Often times I wonder why
There's love and hate, theres live or die.
When sickness comes I must decide:
When feelings go, theres suicide.