And what happens when enough work becomes mechanized or automated and enough people are out of jobs that it doesn't matter how low the resulting price of the pr

And what happens when enough work becomes mechanized or automated and enough people are out of jobs that it doesn't matter how low the resulting price of the product is? I call this the Wal-Mart effect. The idea is that you don't have to pay higher wages, or provide better benefits, or otherwise ensure that the increases in productivity track with increasing real wages. Because everyone can just shop at Wal-Mart! Ever-decreasing prices are not a panacea.