3 ms·
The idea of "greedflation" is strange, it seems to only be understandable if you start with the (unconscious?) assumption that workers cannot be the losers of i
by hcks 3y ago
The idea of "greedflation" is strange, it seems to only be understandable if you start with the (unconscious?) assumption that workers cannot be the losers of inflation.
- nerdponx 3y agoCare to elaborate? The entire problem is that workers are the losers. The "price level" in the economy isn't actually rising, companies just realized they can extract a greater share of total surplus by just raising their own prices, relying on the particularities of the labor market to avoid needing to raise wages along with those prices. As I like to tell people: if the CPI is going up but your salary isn't, it's not inflation, it's you getting poorer.