In such a situation you can cut hours, but you can also cut pay rate. Eventually both. The end result is surely economic contraction. The masses will not be abl

In such a situation you can cut hours, but you can also cut pay rate. Eventually both. The end result is surely economic contraction. The masses will not be able to continue paying the same amounts for the luxuries they currently enjoy, but the newly found efficiencies might enable lower price points.