Questions about bitcoin deflation

Lately bitcoin is gaining more and more momentum, and the question of bitcoin as a global currency was highly improbable a few years ago, the chances of this happening are, in my opinion, increasing drastically.

So I've had a lot of thought on the subject, and I would like to collect the community's opinions. Let's assume that bitcoin becomes the reference currency for the entire economy in the coming decades.

What would be the impacts of its deflationary nature?

Will prices really fall or will margins increase? How do you convince people to lower their salaries? How to avoid excesses? Will speculation decrease? Will the accumulation of wealth be more equitable?

I already have an opinion on these questions but I would like to compare them with other opinions, so how do you see the economy under bitcoin ?