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If entire industries are going bankrupt then it indicates that the service they provide is not economically feasible. The end result is that consumers just have
by Aerroon 4y ago
If entire industries are going bankrupt then it indicates that the service they provide is not economically feasible. The end result is that consumers just have less choice due to reduced services.
- nitwit005 4y agoTo be clear, I mean they could make it work, they just won't do it for cultural reasons. Perfectly happy to pay management and consultants well, but unwilling to even consider it for the rank and file. Some studies on minimum wage increases have compared businesses across state lines, where one state has increased the minimum and the other has not. At least some of the time, the increase appears to benefit businesses, as they had high employee turnover, and hiring does cost money.
- Gigachad 4y agoThe situation is self resolving though. Either they pay more, or they become unable to deliver the service. Since the companies can’t force people to work there, it’s out of their hands.
- supertrope 4y agoOr it’s just a correction following a long boom. Full service, discount pricing, ubiquitous availability, and 10% CAGR in new locations can’t go on forever.