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But you see the spiral that leads to, don't you? Wages increase -> local economy adjusts to absorb higher incomes (i.e. everything, including housing, becomes
by xienze 10y ago
But you see the spiral that leads to, don't you? Wages increase -> local economy adjusts to absorb higher incomes (i.e. everything, including housing, becomes more expensive) -> "we need to demand higher wages" -> wages increase -> ...
- nickparker 10y agoThat's only a spiral if you expect organizations to stay in Mtn. View no matter what. At some point your spiral reaches a point where Mtn. View based companies are beaten out by companies in sane cities with sane costs of living, and then Mtn. View reaches an equilibrium.