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Competition drives prices down, but chances are people with limited options to shop around and who disproportionately head towards mass retailers already, by ex
by vezzy-fnord 11y ago
Competition drives prices down, but chances are people with limited options to shop around and who disproportionately head towards mass retailers already, by example, live in areas with imperfect competition and in the worst case, food deserts. As such, a minimum wage would seem to negate itself again.
- eru 11y ago> Competition drives prices down, [...] Tell that to Google and Facebook bidding on programmers.. Or people trying to buy real estate in London.
- vezzy-fnord 11y agoThe competition in Google and Facebook's case isn't "programmers", but "exceptionally skilled programmers," which is a different good, a much scarcer one and with less diminishing returns than the former. I'm not aware of the real estate situation in London to make a comment.
- lmm 11y agoLondon's planning process is dysfunctional, and the housing supply is nowhere near keeping up with demand.
- eru 11y agoYes. And in this case, competition (on the demand side) drives up prices.
- gohrt 11y agoBe aware: Right wing thinkers don't believe food deserts exist.
- gnaritas 11y agoRight wing thinkers don't believe reality exists for the most part. We've come into an age where we can't agree on basic facts; in that environment, there is no real thinking.
- ZenoArrow 11y agoYou've missed the point of what I'm saying. I'm suggesting that minimum wage increases aren't detrimental on their own, they're detrimental when combined with reduced competition. A minimum wage increase in an area with strong competition for consumers is likely to be a net win.