- cross-posted to:
- hackernews@derp.foo
- cross-posted to:
- hackernews@derp.foo
Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes
Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes
Lol I mean this is literally what inflation is.
It’s not just some thing that happens. People realize they can make more money, so they do. Happens at every step in the supply chain, and thus prices go up across the supply chain.
Prices are set at the limit of what the market will pay
Oh no. Not for essentials and definitely not in our current economic environment. Our economy isn’t designed to have people spend money only on essentials. When people only spend money on rent and food or whole economy is on danger of collapsing.
You’re discussing how things could or should be.
I am discussing the mechanics of inflation
No… Well not in a detailed way and ignores greed. So which would your definition go under demand-pull inflation, cost-push inflation, or built-in inflation.
“Ignores greed”
Greed is always a factor though, this isn’t a new variable to account for. All three categories you provided have a profit motive as the core factor, it’s simply in different layers.
A real example of inflation that isn’t tied to an individuals desire to maximise their benefits from a transaction would be something like extracting an ore than becomes harder as the rich deposits are used up.
Greed is an aspect of any inflation because inflation is explicitly tied to demand.
It’s silly to try to moralize economic concepts.
Always with worst possible take no matter the subject.