I reckon “consumer preference” here ought to have a superscript asterisk that leads to this note: Productivity has skyrocketed yet wages have plummeted and many people simply can’t afford more expensive goods.
Max Dubler 🏳️🌈I think my most genuinely unpopular take is that a widely held and genuine consumer preference for cheaper, lower-quality goods, not private equity, is driving the decline in quality of consumer goods like clothing and housewares.