The Visible Hand # 4

It's a good idea for individual companies to reduce expenses as much as possible. Lowers costs give them an advantage in the market. They can reduce prices or increase their profit margins.

Since labor costs are often a huge part of expenses, it makes sense for companies to break unions, cut benefits, speedup work, lay off US workers and move work to third world countries. However, if a lot of companies do this, then a lot of ordinary people, who are both workers and consumers, are short of m...