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At least as far as the US is concerned the government is beholden to the ultra wealthy, who need no change because they are thriving. The government will make s
by mostlysimilar 4y ago
At least as far as the US is concerned the government is beholden to the ultra wealthy, who need no change because they are thriving. The government will make small adjustments along the edges but won't truly threaten the status quo.
- swagasaurus-rex 4y agoWages are set by a baseline of the cost of living. Young single workers might tolerate having essentially no savings for a few years but eventually they will find a better job or a cheaper cost of living area. This has a direct impact on what kinds of businesses can operate in high cost of living areas. Businesses need high enough volume or margin to pay the rent and wages of their workers. So far outsourcing has localized the negative impacts of failing low-margin businesses in wealthy nations. But that's also coming into question with national security concerns.