Even here in 'Socialist' Scandinavia, deeply unionised and egalitarian, wage cuts are now common. For the ordinary employee, that is. Management often goes free. This will hit 'the economy' in the end. I would never have made a major investment in buying my home, summer house or all the cars I have owned up through the years if I could not trust that my salary was something I could trust would come in every month, uncut. It seems to me that quite many employers use this crisis for all that it is worth to make a better profit. By this they make the crisis even worse. Only the fear of wage cuts prevents people from making major investments.