How might an ignorant public make economic conditions worse?
- RayLv 61 month ago
Look at Detroit back in the day.
The public demanded unions, a hike on minimum wage, higher taxes for corporations to pay for government handouts, etc.
Their economy relied on being the world center for automobile manufacturing, these policies [demanded by the public] hiked production cost, and with increased competition from abroad, US auto manufacturers would not be able to compete in the automobile market. The result: the manufacturers left. Detroit bit the hand that fed them, the city went into ruin. With no tax revenue, the city went bankrupt
- 1 month ago
By voting for capitalists.
- OiyLv 62 months ago
Because they are not rational anymore. They cannot maximize the utility and profits.
- 2 months ago
Don't be so anxious!
If public is ignorant; Government and businesses will take care of it!!
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- SandyLv 72 months ago
by demanding $15/hr for minimum wage when the market doesn't support it.