Unfortunately, society doesn't agree with you. We can try to change that by decree, but it probably won't work. You nailed it earlier in the thread, "the market adjusts, it always does".
I'm not saying that we shouldn't try to improve the lot of the poor. They're getting fucked by our legal structure in very real and tragic ways. But MW is delusional. It doesn't help but pretends that it does.
""the market adjusts, it always does".
are you serious?
the market doesn't do anything.
PEOPLE adjust.
The people actually controlling the economy do the adjusting.
I know the counter argument will be “that is people” but here it goes anyway….
If the gas station on the right has gas at $2.50 a gallon, the gas station on the left is compelled to set theirs at around $2.50 a gallon or so. If one raises or lowers the price, the other follows suit. Too high and you lose business, too low and you lose profit. That is the market adjusting.
In the macro, the price per gallon is decided by the same market forces. Those who draw the petroleum from the ground have crude oil. It’s called crude because it’s undeveloped and unusable. Try putting some in your car some day. You won’t go anywhere.
What they have to do is sell the crude to those who wish to refine it into something usable; jet fuel, gasoline, etc… Aramco sells it at whatever they can get for it based on the market. Other petroleum companies sell product based on market; too high and they lose customers, too low and they lose profit.
The refiners take the crude and turn it into fuel. They sell it to the retail marketplace, the Shell Station on the corner, the jet fuel dispensary at the airport, and other products. Too high and they lose customers, too low and they lose profit.
The gas station’s price reflects the upstream market prices. The gasoline in their underground tanks does not, in any way, reflect he price on the sign you see at the station on the left or right.
Markets set the price.
Individuals do not.
PS: Whether it is rice, papayas, cotton, corn, sugar, soybeans, or internet bandwidth, the same types of market influences set the price. This is why the prices are pretty much the same everywhere.