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But the people who were pocketing those higher profits and salaries back when gas prices went down, now do have room to cut prices though and still make money.
by JamesianP 4y ago
But the people who were pocketing those higher profits and salaries back when gas prices went down, now do have room to cut prices though and still make money. It can't go both ways.
Anyway starving people still have labor to sell, which they will sell as cheaply as they have to, driving everyone's costs down and allowing them to cut prices after all.
- tsimionescu 4y agoThe price of labor isn't the problem, and anyway it has a floor. No one will work for 1 dollar a day, even if it's theoretically still better than 0 (not if bread costs 2 dollars at least - of course there are countries with such low wages).