Like all morons, Cruz advocates for the Capitalism Death Spiral.
- By increasing the ready supply of workers through immigration, wages fall.
- When wages fall, prices must fall, otherwise workers can't buy anything.
- When prices fall, the return to extant capital must fall as expected profits shrink.
- As the return to extant capital falls, entrepreneurs call for less future capital.
- As investment in future capital falls, wages must fall precisely because capital is the source of wages. Where there is no capital, there can be no wages.
- On falling wages, workers do less, including investing in skills acquisition.
- With fewer skilled workers, dummies in Congress go back to step 1.
Gab It
