/biz/ - Business & Finance

>>15816720
>>15817589
>"I'm a socialist but I've read a couple of things about capitalism that I feel like I can shit an opinion now" - The Post

>and competition from product outside the jurisdiction of your minimum wage laws would prevent some sellers from raising their prices.
no, it would make the business go bankrupt

>Also, a higher minimum wage would encourage businesses to automate more, reducing their costs.
hurr durr automation is magic that can fix everything.

>Because when your wage bills are high, it isn't profitable to make low value products.
Learn about basic fucking supply and demand and normal goods and inferior goods. Not everyone wants or can afford to pay for higher value.

>And higher value isn't synonymous with higher quality. Increasing quality is not the only way to increase value.
Please tell us more about this. In what way would you increase Customer Perceived Value without incurring higher costs. Keep in mind that you've already increased the wages, so your costs are already higher than mine. I'm also incetivized to increase customer perceived value, but the difference between me and you is that I have more money to allocate for that. In what scenario do I not fuck up your business and make you close shop, since I'm doing everything that you're doing, but I have more operational cash flow to do it?

>>14757485
ok, but it seems that other anons have already answered your questions, especially him >>14757337

the TL/DR is that nobody sets the price of bitcoin. It's worth what people are willing to pay for it. When you have many exchanges with billions in volume, it's easy to do price discovery and see what its market value is. You should read up more on supply and demand. For a second there I thought you are commie and you can't understand supply and demand, but you mentioned you came from /pol/ so you should be ok.

Also, how come a /pol/tard doesn't understand basic economics? Isn't the whole point to understand how the kikes fuck the goyim through the financial system? Seems strange.

>>14560755
>the menu prices will increase
so what? It's a free market. It supposed to cost what it's supposed to cost. It's not my job to worry about the wages of the employees. I didn't hire them. It's your job as a business to tell me how much your food + services cost and it's up to my decision if I want to become your customer.

>Restaurant margins are 3%
so what? In the real world, when a business is SHIT, people stop doing it. It's not like fucking restaurants are essential to our society and we have to socialize their operations cost.

>>14043205
>vitalik is so smart that you don't understand his commie genius guys
KYS

>>13422236
>his business is hurting because of "reasons" and not because he's an imbecile that doesn't understand how basic economics work
color me surprised

>>12565234
>>12565277
kill yourself, disgusting commie
actually no, why don't you just move into some socialist shithole and see how your little idea does in the real world. Let me guess, that's not real socialism

>>11873251
it's ok linkies, if Sergey and his gay team doesn't port link to Holochain, someone else will. Then you'll learn what the concept of "race to the bottom" means in economics.

>>11427728

>>9650548
>why are the devs not working for free while starving?

the absolute state of you neo-marxist libtards

>>9166475
Not sure if I'm telling you something new, but here we go. Basically once Holo is live, holofuel will buy you computational power in the network. The nodes will decide how much holofuel to charge per unit of computing. They will compete with eachother pushing the price down, but not the price of holofuel, but the price of a computational unit, meaning that 1 holofuel will buy you more computational power . The market will then quickly adjust to reflect the value based on that computational power the network provides. You could technically sell holofuel at whatever price you want, but people will only buy it if the price is fair in relation to what they can achieve with it.

Hope this explanation doesn't sound retarded. I did my best.