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Are there no humans involved in the process of raising prices?

• s1artibartfast 4y ago
  yes, on both sides. How much a human is willing to pay, and how much a human thinks they can get. If your point is simply that businesses are choosing to maximize profit, that of course is correct. It always has been unless you are a non-profit or state owned enterprise. The salient question is what conditions changed in the economy so that they can increase prices. It isnt like they were running as charities before.
  • acuozzo 4y ago
    > The salient question is what conditions changed in the economy so that they can increase prices. Agreed. > If your point is simply that businesses are choosing to maximize profit, that of course is correct. My point is pedantic and political. I don't like humans being removed from the equation. Framing inflation as a natural consequence of increasing the money supply is one way to do that. The widespread thinking that "businesses exist to maximize profits" is another. (Yes, I'm aware of obligations to shareholders in corporations, but that's beside my point.) Removing humans from the equation makes abuses just palatable enough to go down.
    • s1artibartfast 4y ago
      I personally don't think that raising prices is abusive or even unethical. A tenant of voluntary labor and exchange is the ability to set your own price. Like you said, it is an inherently human choice. I would be curious to hear how you think economic interactions should work.