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by danaris
1255 days ago
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Competition leads to the opposite in an idealized free market. What we have is not a spherical market cow in a vacuum; it is a real live market with all kinds of non-ideal aspects to it. The biggest one of those is the gradual transfer of wealth from the poorest among us to the richest over the past several decades. This means that the poorest X% of consumers are vastly more price-sensitive than they would be if the productivity-to-wage ratio had remained the same since the mid-'70s. |
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