4 ms·

Yes, that reduces the cost of production. Everyone can be paid a high salary and produce expensive stuff. Or low salary and cheap stuff. Both of them are valid

by rtx 9y ago

Yes, that reduces the cost of production. Everyone can be paid a high salary and produce expensive stuff. Or low salary and cheap stuff. Both of them are valid solutions. But due to the current concentration of wealth in rich countries we are seeing preference for one of them.

jahaja 9y ago
So the wages of the poor is dynamic, but the profit margins etc are static by some force of nature?
- rtx 9y ago
  Yes, because capital is more fluid.
  - jahaja 9y ago
    There's clearly more instruments for affordable produce than lower wages for the poor. I'm from a Scandinavian country and we've had it pretty good compared to countries with less wages and workers rights.