@walterhall1 No problem. But it's worth noting that it's usually the producer class that decides which of its peer classes (consumers or employers) gets ripped off the most. Either they raise prices to pay their employers more or lowers prices and reduce wages. It's all about "externalizing the cost." The only time the producer is forced to accept a loss is where the law protects both peer classes by setting a minimum wage and preventing price gouging.
@walterhall1 No problem. But it's worth noting that it's usually the producer class that decides which of its peer classes (consumers or employers) gets ripped off the most. Either they raise prices to pay their employers more or lowers prices and reduce wages. It's all about "externalizing the cost." The only time the producer is forced to accept a loss is where the law protects both peer classes by setting a minimum wage and preventing price gouging.
Tanoro 11 months ago