I'll nominate a new candidate for such a mechanism: minimum wage laws. My awesome city of San Francisco has just increased its minimum wage to $10.24/hour. There is nothing in most locales' minimum wage laws to prevent raising the floor as frequently or as high as lawmakers would like. Raising a minimum wage is politically popular and politicians in other areas are free to play catch-up with SF. High unemployment would normally prevent a wage-price spiral because employers would be free to hire new labor at bargain wages rather than pay existing workers more. Beggar-thy-neighbor minimum wage increases across the country would obliterate that macroeconomic roadblock to a wage-price spiral. The circle would be complete once employers raise their prices to cover higher labor costs.
Economic stagnation has a lot of CFOs worried. Rising wage costs give them one more thing to worry about. This San Francisco action throws a pebble into the American economy that could ripple into more wage hikes, followed by more price increases. This can easily escalate into uncontrolled high inflation. Let's not go there.