Except that without prices being allowed to adjust upwards in response to costs going up, there would be a massive gridlock in the labor markets, wage freezes,

Except that without prices being allowed to adjust upwards in response to costs going up, there would be a massive gridlock in the labor markets, wage freezes, layoffs, recession or depression. It's workers who benefit the most from a fluid and tight labor market. Asset holders only get a transient, on-paper gain that is much less important than a functional labor market is to workers. In a good labor market, businesses are fighting to retain and attract labor.