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by bsbechtel 4520 days ago
I meant there is still lots of technology to be developed that can make many goods much cheaper than they are today, and as they become cheaper due to technology, then more people will be able to afford those goods.

I wasn't really thinking too deeply on how the cost of labor affects the price of goods, but I tend to have the general attitude that if everyone in a firm (including management and the owners will accept 0 profits) wants to work for free to make their goods the cheapest on the market, then they are free to do so (and there is a reason you don't see this in our society...it doesn't last long). However, I think it's a crime, and a serious problem when shareholders and top management reap billions in profits off the backs of thousands of wage workers who earn $7.25/hr and then rely on government welfare programs to support themselves...that's basically the government subsidizing cheap labor for big corporations.