What would happen if everyone in your country became rich? Would inflation equalize it or would everyone just diaspora to maintain their buying power (lemmy.world)

submitted 4 months ago* (last edited 4 months ago) by cheese_greater@lemmy.world to c/asklemmy@lemmy.world

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Couldn't the collective threat that everyone just diasporas mitigate inflation if businesses tried to pull any funny business?

Why does it work for Monaco?

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[-] cheese_greater@lemmy.world 1 points 4 months ago* (last edited 4 months ago)

How would this similar dynamic apply to say, like potato chips and a grocery store, both who are overcharging and/or shrinkflating?

[-] Pohl@lemmy.world 2 points 4 months ago

If there is somebody willing to pay more for what is ultimately a limited supply of potatoes, why not sell to them. If the price per ounce of chips is too high for you, you’ll buy less chips. People who just can’t live without those chips might buy less candy to make sure they can afford them.

All the while people who make chips are asking for raises because the chip market is hot and the boss just can’t get enough people into the plant to make them. The workers know their boss needs them badly so they are comfortable asking for more. The boss relents because he needs them in there making those chips or he’s gonna lose money with potatoes rotting in the warehouse.

this post was submitted on 22 Jun 2024

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