If the law of Supply and Demand dictates that high demand + low supply = higher prices/rates, why aren’t companies/industries suffering from large scale labor shortages offering suitably higher wages to mitigate the shortage? Contrarily, some of them seem to be figthing this obvious solution tooth and nail. Shouldn’t any businessperson worth their salt realise the labor market has changed beyond their control?
In: 6
Because the demand for labor isn’t effecting the people who control the supplies of goods. They are rich and protected from shortages. They see a demand for labor as an opportunity, not a cost.
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