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LarryBetraitor@lemmy.world 2 days agoYou can’t, but the prices of everything else will go down if we stop buying everything else, at least. If we ONLY buy necesities, our economy will HAVE to get better since liteally everything is being affected. But landlords will just look at the success of the Switch 2 or the newest iPhone and say “See? Clearly you guys aren’t suffering THAT bad! Time to charge you more!”
CapuccinoCoretto@lemmy.world 2 days ago
You are making an assumption based on standard economic theory. Assuming a well regulated free and fair market. The world is neither, and not buying shit’s ability to lower prices is limited. They can just stop production, or limit sales, warehouse things for a time etc…
Lots of issues with elasticity of prices and not enough time is spent looking at how economic theory doesn’t work.