A few days ago, I was having an interesting conversation with an acquaintance who is a former Tik Tok founder. The former leader of the franchise had died while attempting to launch a new restaurant, and it appears that he was trying to negotiate a new sale of the franchise to a company in China. This raises a question as to the reasons behind the recent strike by the black Tik Tok creators and the rest of the black-owned restaurant owners. One of my questions was as to why the black-owned restaurant owners were suddenly on strike in such large numbers. In my opinion, one of the primary reasons is because of the rising costs of doing business in San Antonio.
As the restaurant business enters into the economic downturn, costs are expected to rise. This cost is passed along to consumers through higher prices for food and beverages, more expensive inputs for the food produced, and higher salaries for workers. All of this leads to a struggle for the consumer to keep up with the rising cost of living. As I mentioned earlier, the cost of doing business is rising because of the recession, and this struggle among businesses is just being made worse by the economic downturn.
The second reason that I believe this is so. During the height of the economic downturn, the media began to talk about the ” waitress’ strike” – which, of course, was a myth. More people than ever before are demanding fair wages and benefits. In fact, more people are demanding employment today than any time in the past. Because of this high demand, businesses are forced to increase output, and that leads to increased labor costs.
Naturally, the employers are forced to respond with increased labor costs. Because the supply exceeds the demand, the result is unemployment. Now, many people are looking for ways to make money even if they aren’t employed. As a result, increased joblessness is causing a huge strain on an already overstretched economy.
And, as I mentioned earlier, increased demand leads to increased prices for goods and services. In this case, that price hike is directly related to the black market. In traditional markets, there is a black market where goods and services are sold and received in secret. These illicit goods and services are the source from which the black market profits.
However, in the United States, the black market isn’t a secret. Instead, it’s available to anyone who knows how to access it. In other words, because black market goods and services are widely accessible, businesses can raise their prices without fear of prosecution. The result? A growing economy in which everyone but the rich get richer. And this is what people in the U.S. are clamoring for.