It makes me wonder how companies managed to stay in business when there was lack of purchasing power and goods usually cost way more than today compared to the average salaries.
So people wouldn’t buy a lot of new products and generally products lasted longer.
How did companies make money during this period before mass consumption became normal and products started to be sold by the millions?
In: Economics
Imagine choosing between making 1 $10,000 watch each month, or selling 10,000 $1 watches each month. Mass production make the supply go way up and kill masterpieces. Hell, there was a time when printed books were new and they de-valued handwritten books and were considered vulgar.
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