It also begs the question, if it is easier and cheaper to create and run a business (in theory, more profitable per time unit), it makes sense that more businesses would exist, making the landscape more competitive, placing more impetus on competitive pricing as a “differentiator” (race to the bottom).
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Does it have to do with this?
https://en.wikipedia.org/wiki/Tendency_of_the_rate_of_profit...
That’s pretty interesting.
It also begs the question, if it is easier and cheaper to create and run a business (in theory, more profitable per time unit), it makes sense that more businesses would exist, making the landscape more competitive, placing more impetus on competitive pricing as a “differentiator” (race to the bottom).
To a lay person like me, this does seem like a plausible explanation. But I'm sure there could be more to it.