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When prices go up consumers substitute. Offshore labor is cheap. Why would consumers pay extra for domestic products instead of just buying cheap imported ones?
by colinmhayes 4y ago
When prices go up consumers substitute. Offshore labor is cheap. Why would consumers pay extra for domestic products instead of just buying cheap imported ones?
- trelane 4y agoAye, there's the rub. It's the same as saving. One person saving more is a good decision. _Lots_ of people saving more is a recession. Externalities.