> You throw away that number, and look at how much other chairs are selling for, compare features, the landscape of the whole market, and set your prices that way.

Maybe this is true. Price is inherently bound among what people will pay, upstream (material/supply chain) costs, and labor. The west has overpriced its labor and material values by probably orders of magnitude for a long time, and people will pay less than ever. The rest of the world has been undervalued both in the effort for it to gain access to the markets that allow increased quality of life. But the market correction will lead to severely reduced market evaluation in terms of demand and price for all three factors in the west for many decades, I think.

Selling out our supply chains was suicide. I am too young to understand why people let this happened, but I think people bought into the idea of progress a little too hard to keep in mind their own civilizational health.