Without fail, every time I try to have a conversation about the high cost of living and rising rents someone always spouts the Law of Supply & Demand to me as justification for these high prices.
But now, since there is a shortage of labor, why does the Law of Supply & Demand no longer apply?
But, the thing is, there's been a shortage of labor for a long time now. It's only people being more vocal about the cost of living that's brought the issue to the forefront.
But businesses won't acknowledge the Law of Supply & Demand when it comes to labor.
From their POV, people are “just lazy or ungrateful”.
IMHO this proves the Law of Supply & Demand is, and always was, just a bullshit excuse to raise prices to make more profit.