I think you fundamentally misunderstand how companies are thinking.
They are thinking “well, if i pay my workers 10% less, surely they have 10% less money to spend, and that means they buy fewer products, and that hurts revenue, but they probably buy some other company’s products anyway, so that’s other company’s loss, not mine.”
companies aren’t so much an organized hivemind as people seem to be thinking. A lot of them are literally competing against one another, and they don’t care whether other businesses struggle because they pay their employees less.
I mean, they often dom’t even care if their own employees struggle as long as they continue working for the company. Why would they care about other companies, or even the greater economy in total? They don’t. Who should care, though, is the government. The US has an incredibly weak government that does not protect its citizens and give them appropriate subsidies. That’s why people are having economic hardships.
I think you fundamentally misunderstand how companies are thinking.
They are thinking “well, if i pay my workers 10% less, surely they have 10% less money to spend, and that means they buy fewer products, and that hurts revenue, but they probably buy some other company’s products anyway, so that’s other company’s loss, not mine.”
companies aren’t so much an organized hivemind as people seem to be thinking. A lot of them are literally competing against one another, and they don’t care whether other businesses struggle because they pay their employees less.
I mean, they often dom’t even care if their own employees struggle as long as they continue working for the company. Why would they care about other companies, or even the greater economy in total? They don’t. Who should care, though, is the government. The US has an incredibly weak government that does not protect its citizens and give them appropriate subsidies. That’s why people are having economic hardships.