Assuming ethical sourcing with livable wages for all workers in the supply chain, will market prices surge to reflect the true cost of production free from exploitation? Thoughts appreciated.
Hey everyone, I’ve been thinking about how the supply chain might evolve in a world of strict ethical standards and livable wages. It seems like while prices might go up a bit to cover the fair wages and better working conditions, we might also see a shift in consumer values—maybe people will become more willing to invest in products that last longer or actually offer a greater sense of quality and trust. Then again, could this shift lead companies to innovate in ways we haven’t even considered yet? I’m really curious to know if anyone else thinks that ethical production could trigger a broader change in how we view value beyond just the sticker price. What are your thoughts on balancing out higher upfront costs with improvements in quality and sustainability over time?
In my view, ethical product production would likely lead to an increase in prices, but not necessarily to skyrocketing levels. The hidden subsidies that are currently built on exploitation would be removed, making the costs of fair labor and sustainable practices more visible. Although production expenses rise, market adjustments may emerge. Companies could invest in efficiency and innovation, potentially reducing the magnitude of price hikes. Consumers might also flex their spending habits to support practices that encourage fairness and sustainability, contributing to a gradual shift in market dynamics.
hey, i reckon there’d be a bit of a price hike since fair wages bump up cost. but honestly, if quality and ethics come in the package, most folks would pay a lil more; meaning, minor rises are acceptable over exploiting labors.
Drawing on my personal experience in consumer markets, I’ve observed that when costs are shifted from exploitation to ethical production, consumers gradually adapt to moderate price increases. I believe that prices would not skyrocket but rather see a modest rise reflective of fair wages and sustainable practices. The transition could drive companies to innovate, optimize processes, and offer improved products. In the long run, the realignment of values may enhance overall quality and trust in products, making the market more resilient and aligned with ethical consumption principles.