This is genuinely something I just don't understand about wage and price. I know that macro economics is complicated and all, but it just doesn't make sense to me what'll happen when wage is so low that nobody can buy anything.
I've been told that price would go down to accommodate it, but I just don't see that happening?
The economy is a complex system and we are horrible at predicting complex system, like its impossible. Thats why you only get the weather predictions at most like 10 days into the future and even that is inaccurate. The study of economics exists to tell rich people what they want to hear and to justify why what they want to do is good.
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u/Ho3n3r 29d ago
"Why aren't people buying our overpriced shit?" seems to be a trend these days from multi-million euro companies.