This is the end game for corporations in a capitalist economy. You start with a bunch of little companies. They eventually winnow themselves out until there’s only a few companies. Those companies then form a monopoly or a cartel and then they dictate prices to the consumers. All the while they’re decreasing their costs and providing the least amount of product for the highest price.
It’s a race to the bottom. Unfortunately this system is all we’ve got.
But wages absolutely have gone up, just not as much as other things like cost of groceries or housing have risen.
Inflation does not require perfectly equal increases across all categories. Nor does it require it to occur ‘quickly’ although it certainly can. It is completely possible for some products/services to even come down in price during periods of inflation. The trend/average is what matters.
It’s absolutely caused by greed, yes…but it is still inflation, by definition.
Edit: were you thinking of hyperinflation? Because that would explain the ‘quickly’ part… But it still doesn’t require all products/services to increase in price identically.
Stop saying this is inflation.
It’s the result of a handful of corporations owning the majority of food products.
And then realizing people need food regardless of cost, and if they all raise prices at the same time there’s very few other options.
It’s price gouging, plain and simple.
Quick edit:
The graphic is from Faux News…
Obviously it’s going to misrepresent this
Of course it’s bullshit. The sky always has to be falling on Faux News, that’s how they keep the viewers scared, angry, and watching.
MSN puts it at about $50:
https://www.msn.com/en-us/money/markets/kevin-mccallister-s-grocery-haul-in-home-alone-in-1990-was-20-see-what-it-would-cost-now/ar-AA1ldFjI
Even Snopes puts it at about $50 (last year’s pricing): https://www.snopes.com/articles/464088/kevin-groceries-home-alone-cost-today/
So Fox, as usual, is full of fearmongering shit.
I’m not trying to downplay the idea that stuff is getting too damn expensive, it really is out of hand, just that Fox is garbage.
This is the end game for corporations in a capitalist economy. You start with a bunch of little companies. They eventually winnow themselves out until there’s only a few companies. Those companies then form a monopoly or a cartel and then they dictate prices to the consumers. All the while they’re decreasing their costs and providing the least amount of product for the highest price.
It’s a race to the bottom. Unfortunately this system is all we’ve got.
Yeah this is a bad post. Thanks for calling it out.
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Regardless of the underlying cause, it’s still inflation.
Removed by mod
But wages absolutely have gone up, just not as much as other things like cost of groceries or housing have risen.
Inflation does not require perfectly equal increases across all categories. Nor does it require it to occur ‘quickly’ although it certainly can. It is completely possible for some products/services to even come down in price during periods of inflation. The trend/average is what matters.
It’s absolutely caused by greed, yes…but it is still inflation, by definition.
Edit: were you thinking of hyperinflation? Because that would explain the ‘quickly’ part… But it still doesn’t require all products/services to increase in price identically.
I have to wonder if you’re being purposefully disingenuous to prove a point. The general definition is absolutely appropriate here.