pam on Nostr: Without careful planning of intra-trade of supply and demand, it will be a repeat of ...
Without careful planning of intra-trade of supply and demand, it will be a repeat of globalisation and deindustrialization in the 70s and 80s , which led to rust belt cities and growth of west coast and upper east side. It will exacerbate inequality by hurting lower-income groups especially labor-intensive industries, while benefiting capital-intensive sectors like high-tech.
Another scenario is cost-push inflation like Argentina where a sharp spike in the price of goods (due to the rise of intermediary cost) would again disproportionately hurt the low income groups the most. Naturally people would be driven to look for low-cost alternatives, often at the expense of lower quality, which will reduce the overall standard of living in the country. The quality of goods would further derail when the market no longer has competition like during the soviet cold war era.
Another scenario is cost-push inflation like Argentina where a sharp spike in the price of goods (due to the rise of intermediary cost) would again disproportionately hurt the low income groups the most. Naturally people would be driven to look for low-cost alternatives, often at the expense of lower quality, which will reduce the overall standard of living in the country. The quality of goods would further derail when the market no longer has competition like during the soviet cold war era.