The factory doesn't come to town and you end up losing your home and starving to death.
The way it would work is that the first factory comes to town paying enough to survive.
Next, another factory pops up to take advantage of the cheap labor but pays slightly better. The best workers move to the new factory for better pay.
The first factory offers higher salaries to attract the best workers back.
Wash rince repeat until equalibrium is achieved. Nothing is gained by forcing a business into closure due to overpriced labor.
This only works if you are willing to leave your comfort zone to get a higher paying job with a bit of risk vs being comfy, safe, and underpaid. I've been skipping job to job and in 7 years have more than doubled my starting salary and am still moving up rapidly.
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