this post was submitted on 16 Jan 2024
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chapotraphouse
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Cost won't rise because cost is determined by what people will pay for it rather than what it costs to produce. Any price rise is based on competition in the local area and whether it will decrease total customers.
Well, no, it’s a factor but. LTV and all that. Which still doesn’t mean higher wages means higher prices, I think.
LTV isn't about price.
yeah no i guess i didn't think it did, was sort of worried you were taking the supply/demand narrative at face value but i'm dumb
Marx on the relationship between wages and prices
https://www.marxists.org/archive/marx/works/1865/value-price-profit/
Makes sense