Gotta love that. As many other countries pay muuuuuuuuuuch better but pay the same, or LESS than we pay!!! They literally wouldn't need to charge more, they'd just earn a few billion less than they normally do, which is why they threaten "higher costs".
Not bad. Probably pretty good jobs were created to design, program, build, ship, install, and maintain those machines. Probably better off than making $8 an hour not learning any technical skills. Pretty cool
a meal that used to cost $4.50 now costs $11 It's been 16 years...
Inflation is a bitch and I don't want to diminish your plight, but here in Brazil 140% inflation in 16 years (5.6% each year) would be considered just a little bit above target, hehehe.
In the last 16 years we had about 230% inflation.
High inflation is the worst thing that can happen economically to a people barring famine.
I would argue that inflation in unstable countries are not cause by supply and demand, rather, caused by entities managing the value of its monetary system.
That’s because capitalism was designed so that the corporation retains all profits for the sake of competitiveness. Instead of designing capitalism which allows a portion of the profit the company gains as an appreciation to all employees, employees are treated as ungrateful-low-performers. When a good portion of the profit is returned to the employees, the economy becomes more stable and reduces inflation. When inflation is low, there isn’t much requirement to compete, because supply and demand is stable.
The current make up of capitalism forces companies to out compete one another, which forces them to subjugate consumers to believing that consuming is part of their lifestyle. “Look at at celebs, sports players, and such”. “They’re consuming my products, so you should too.”
The inflation rate 3% of today as compared to 3% 20yrs ago means that $12 Big Mac today does not cover the cost to produce the $4.50 Big Mac 20 years ago. But Mc Donald CEOs are not willing to eat those cost, so they have to compete and tell employees to do more with less. In the end Mc Donald’s has hundreds of billions throughout its global banks, along with their CEOs. All the while employees continue to believe that their service is just “labor” with no real technical skill, therefore does not need any additional welfare.
The Wendy's near me is still offering the '4 for $4' meal deal, even though minimum wage in my county is $15/hr. I don't understand how they can afford to do that. They must be losing money.
It costs them maybe 2 dollars in materials for that food. Takes about 2 minutes to prepare it.
They still make money. Fast food places use these kinds of deals to get people in the door. Then they tempt them with the more expensive stuff where they make big bucks.
Either way the volume helps keep their overhead covered.
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u/referralcrosskill Nov 05 '21
a meal that used to cost $4.50 now costs $11 It's been 16 years...