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Capitalism breeds competition, and the simplest way to compete is on price. I suspect that each of these owners is likely speaking in good faith, and at their
by arwineap 3y ago
Capitalism breeds competition, and the simplest way to compete is on price.
I suspect that each of these owners is likely speaking in good faith, and at their current margins they probably would have to lay-off other people. But what I think they are failing to account for is that this will effect their competitors as well, so they may be able to compete across the board after a price increase.
It's probably a naive thought
- cool_dude85 3y agoBusinesses don't usually compete on price. They're price setters in general and people are price takers.
- ghastmaster 3y agoIn this case, the potential employee would be setting the price of their labor and trying to sell that to the employer. While typically the employer does make the offer, it is akin to going to a market and advertising that I(employer) would like to buy tomatoes(labor) for $.50/lb. The seller of tomatoes is still setting the price if they decide to sell.
- pixelatedindex 3y ago> Capitalism breeds competition, and the simplest way to compete is on price. Only if there is proper regulation, which there is less and less of. Otherwise you end up with price fixing and oligopoly.
- simonhorlick 3y agoCapitalism naturally tends towards monopoly. The idea that it breeds competition is a nice fairy tale, but doesn’t reflect reality.
- dantheman 3y agoWhy would you say that? It seems that the majority of monopolies ever created have had substantial government intervention. Assuming you mean a business that is monopoly for say a decade and not a few years.
- deleted 3y ago[deleted]