RE: About minimum wage
October 10, 2016 at 2:25 pm
(This post was last modified: October 10, 2016 at 2:32 pm by The Grand Nudger.)
Excellent. An example. I have to ask, and you'll have to give me some leeway to be coarse here...but was there suddenly no one to supply car parts...when your father went out of business? Because if not, it's clear that it was his model, and not the industry, that couldn't take the increase. Further...they drove him out by offering the service at a -lower- cost to consumer...didn't they?
Your story, though, is familiar to many americans. Economies of scale, the power of a bulk purchaser (or producer) to dominate the market and drive out competition. At some point, all other things being equal (I know, hardly ever are)..we just have to accept that the other model was better than ours, strictly comparing business to business.
All the above said, I'm not really sure why it would be an example of an increase in minimum wage making an industry unprofitable? Which is what I thought we were discussing?
Your story, though, is familiar to many americans. Economies of scale, the power of a bulk purchaser (or producer) to dominate the market and drive out competition. At some point, all other things being equal (I know, hardly ever are)..we just have to accept that the other model was better than ours, strictly comparing business to business.
All the above said, I'm not really sure why it would be an example of an increase in minimum wage making an industry unprofitable? Which is what I thought we were discussing?
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