Indus
Lifer
- May 11, 2002
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RR is one of my go to sources for economic info. Here is what he said about inflation in the last quarter:
Companies are using inflation to price-gouge Americans – and making it worse | Robert Reich | The Guardian
Corporate profits reached a record high in the fourth quarter of last year.
The easiest explanation for record corporate profits at the same time prices remain elevated is that corporations have enough monopoly power to keep prices high.
(Note that many corporations are also shrinking the size of the products you’re buying without lowering their prices – a variant of the same thing)
This. This is the whole fucking thing. Companies can only price gouge cause there isn't enough competition. Wages don't cause inflation, lack of competition does.RR is one of my go to sources for economic info. Here is what he said about inflation in the last quarter:
Companies are using inflation to price-gouge Americans – and making it worse | Robert Reich | The Guardian
Corporate profits reached a record high in the fourth quarter of last year.
The easiest explanation for record corporate profits at the same time prices remain elevated is that corporations have enough monopoly power to keep prices high.
(Note that many corporations are also shrinking the size of the products you’re buying without lowering their prices – a variant of the same thing)
The petroleum industry has that down to a science.I feel like this has been known for a while though. At least ever since the huge "egg shortages" a few years ago.