That's the inevitable death spiral that occurs when society prioritizes money and profits over all other considerations, including the health and wellbeing of the people. Companies import cheap foreign workers, push women into the workforce en masse, depress wages as much as possible, while simultaneously charging their customers more and more. People erroneously think that the competition between businesses would stop that, and in some sectors it does. However, many sectors silently agree not to compete like that, because they (the CEOs) all tacitly understand they stand to gain a fortune by screwing everyone over.