So I was listening to mathematician and economist Eric Weinstein, and he told an anecdote about salary in a hyper-inflationary economy. In the story, the employee and employer argue over the "fair" compensation as it relates to inflation(then further tied to Gauge theory but that is not relevant), where the employee states salary should be derived from the real spending power of the currency.
Would the argument of salary derivative wrt purchasing power(or relative value) hold any water if the notion of constant salary is not explicitly stated? Or is it just implicitly assumed? Would this question differ for a contractor?