How else does one suppose increased costs of production can be paid for? Less of the product will be sold because the sale price must be profitable and thus must be raised due to the rise in cost of production. Less product, of course, means less labor to make fewer units which- wrap your brain around this- means fewer hours and/or fewer employees. That is so purely common sense that even liberals should understand it. But they don't
Central planning always leads to a downward spiral. Oh but “this time it will be different”. I don’t know which is worse, the stupidity or the arrogance.