Victoria at least has some advantage in that regard as it does have free-floating wages (although like I said, it is currently unoptimized and due to be patched in the near future). But you as the government can institute wage controls and welfare....which I usually see as the moment people cite as their economies beginning to die, as wages get so high its virtually impossible to keep business profitable without subsides, which further eats into their profits and gold reserves.

So they have to start raising their taxes. And when that is not enough, they have to start taxing goods. And when that still isnt enough, they have to go get colonies, which pay taxes without using your institutions. And when that still isnt enough, you start looking at your neighbors to try and bring them into the fold, and....oh wait, this is all starting to sound very familiar.

Meanwhile, my Capitalist, Liberal society has profitable business, my workers are making just as much, if not more, money even without wage laws, welfare exist for a very select few of the population that deserve it (like the elderly), and even with taxes minimized I am still collecting more than I know what to do with because my Capitalist are funding everything due to their profits meaning I dont need to pay for construction. And of course, I am making a killing selling excess items for export, and importing what I lack.