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Lower cost of operation leads to lower costs of goods for the average consumer. Net win in the end, as economic resources are utilized more effciently. Same re
by adam_arthur 4y ago
Lower cost of operation leads to lower costs of goods for the average consumer. Net win in the end, as economic resources are utilized more effciently.
Same reason we use 3$/hour labor to make clothes rather than $30/hour. How much would clothing cost then?
Is it fair to burden the working poor with prohibitively expensive goods to raise wages beyond a market equilibrium level? No, not really. Decades of economic analysis to corroborate this viewpoint.
Though there will always be a winner and a loser with shifts in income. Can be cases where it makes sense to advantage some groups at the expense of another, even if it's less optimal in a total sense