689
Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows
(www.theguardian.com)
this post was submitted on 09 Dec 2023
689 points (98.9% liked)
News
23014 readers
5 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
We all knew that. Too bad the Federal Reserve and Bank of Canada ignored every sign pointing to greedy companies causing inflation and instead nailed us to the wall.
thats by design, its always on us.
capitalize the gains, socialize the losses.
Socialize the bosses?
Proletarians of the world, unite!
Capitalism doesn't believe in Robin Hood. Robbin' hoods on the other hand...
They exist to support the rich. Low unemployment rates hurt the rich, so they retaliate by raising prices, making people poorer and more desperate and less able to dictate the conditions of their employment. And here we are.
I work for a manufacturing company, and during the demand boom our customers wanted way more product than our facilities are physically capable of producing. I suppose sales could have complexified and ratcheted up our existing rationing process (have to have one at some level when it takes months to produce an order), but raising prices made demand go down so it matched our actual ability to make stuff.
Given the wild increase in demand beyond the infrastructure capabilities, the only alternative to inflation was rationing, and I do not have enthusiasm for ration lines.
Price hikes in a manufacturing context are simply rationing with extra profits, atleast until you build out greater capacity.