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this post was submitted on 25 Jun 2024
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This is just mask-off capitalism. They want people to have a lot of babies, and/or large numbers of poor and desperate people migrating into the country, so that they have a constant, reliable source of cheap labor.
Paying workers more is inflationary, but raising the cost of goods because you control the supply chain is "business"
Basically, raising product costs to cover increased labour costs are bad because actual workers are getting that money instead of the wealthy capital class.
I wish people understood boycotting more. Sure 6 companies own everything, but remember when the cost of a barrel of oil went significantly negative because people weren't driving for 2 weeks?
If people collectively decided they didn't want to buy anything but the absolute necessary staples for a few months there would be an absolute catastrophe in the supply chain and they'd be forced to lower prices significantly.
They may not lower prices forever, but modern business is built entirely on supply chain logistics. If people stop buying anything, or buy things exclusively to return them we would see some serious changes
I've tried to convince people that if we can have a No Nut November, we ought to be able to put together a No-Sales September or something. These mentally defective executives would absolutely go back to taking care of the customer if this were a practice.
We should definitely do November for it - holiday shopping and Black Friday specifically.
Hell, if we could just boycott Black Friday and the week before and after, which is the biggest retail spend of the year, we’d probably make a serious dent. They aren’t even good deals, but good luck convincing anyone to skip it who doesn’t already.
I knew even before I opened the article it’s gonna be about fewer babies = fewer workers. Remember folks, when an article cites the “economy”, it just means the businesses and industries’ profits.
You know what slows down inflation? An upper limit on the cost of goods. But hey im just a filthy commie.
It didn't, not in the US, not in Soviet Union
In the Soviet Union it caused rationing instead. Here's your coupon for 1 stick of butter
Sure buddy those are the only two countries that have existed in the world. So can't work anywhere.
What country would you point to as a success for this policy?
Can i have your list of valid countries to choose from so that my answer doesn't get disqualified for picking a third world country.
a maximum retail price exists for most if not all goods in India. And it helps slow down inflation.
India would be perfectly valid if it wasn't experiencing high inflation just like everyone else. Which it is.
https://finimize.com/content/rbi-chief-urges-india-to-cut-inflation-despite-strong-growth
You can't fix inflation just by setting a max price. It leads to shortages or (more common in India's case) retailers finding loopholes:
https://www.thehindu.com/opinion/op-ed/maximum-retail-price-is-an-archaic-dysfunctional-mechanism/article7452745.ece
Didn't say it solves inflation. You cant stop a global phenomenon happening. You can ease it.
Here's India's inflation chart for the past few years: https://www.equentis.com/blog/wp-content/uploads/2023/10/image-87.png
Here's the US: https://fred.stlouisfed.org/series/MEDCPIM158SFRBCLE
They aren't easing anything.
It doesn't work because it's a stupid idea.
If there's a cap on the price of a type of good, then obviously only the lowest quality things get made. If you cap shoes to $10, they will only sell shoes imported from sweatshops.
If you specify exactly how something is made, like $20 for made in USA shoes, they will import it from a sweatshop and sew a logo on it in the US.
If you specify how much labor must be done in the US, there's a chance nobody would bother since selling the $10 sweatshop shoe has better profit margins
Yeah thats not how the prices are set tho so your entire premise and basis is stupid. Have a good day. Do some reading.
I'd like to put Simona's mind at ease because economics research into the relationship between wages and productivity shows a casual link where higher wages increase productivity. That is, higher wages force firms to invest in technology, equipment and training in order to offset the increased labor cost.