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And fickle consumers drive Walmart. The blame for the race-to-the-bottom doesn't rest solely on corporations.
by diyftw 2y ago
And fickle consumers drive Walmart. The blame for the race-to-the-bottom doesn't rest solely on corporations.
- DrillShopper 2y agoI don't know that I would call them fickle. Real wage growth hasn't happened (effectively) in at least 40 years. Of course people are going to be sensitive to price increases especially if the price increases faster than people's wages increase.
- hayst4ck 2y agoYes, it lies chiefly on our government and regulatory authorities. Governments exist to maintain a commons in the tragedy of the commons. The market, as well as societal trust, is a commons. People in power make individuals responsible for the commons, which creates a collective action problem, which creates a structural incapability of addressing what is best for everyone, such as being able to trust merchants. https://en.wikipedia.org/wiki/Tragedy_of_the_commons https://en.wikipedia.org/wiki/Tragedy_of_the_commons https://en.wikipedia.org/wiki/Collective_action_problem https://en.wikipedia.org/wiki/Collective_action_problem