A simpler explanation of 'greedflation' is simply that the lack of actual competition by market leaders in most consumer goods markets has lead to massive profi

A simpler explanation of 'greedflation' is simply that the lack of actual competition by market leaders in most consumer goods markets has lead to massive profits and higher prices, without increased wages. "Greed, for lack of a better word, is good" - a fantastic quote from a fun movie, but it can in fact be true too. If we use greed as a means to drive competitors in a market, competing against each other, resulting in them creatively undercutting one another, driving down prices so that they can sell the most, then the consumer wins out. But that isn't happening anymore. The largest corporations in each market have gained dominance through mergers, acquisitions, etc. They can reduce their own costs because of their massive scale, more than anyone newcomer can. The result is less and less competition for even basic things like groceries. Here in Canada, there are dozens of different grocery store brands- and they're all owned by 3 companies, giving the illusion of choice. If there were lots of competing retailers for common goods, they'd also be competing for labour, offering better salaries and benefits to their employees, which would help alleviate the cost of living crisis we're in now. But that isn't happening either, again because there's fewer and fewer companies to work for. All the while, the leaders of the world's large corporations are taking hundreds of millions of dollars in salaries, and giving their shareholders billions in profits. "You don't need a formal conspiracy when interests converge. These people went to the same universities and fraternities. They're on the same boards of directors. They go to the same country clubs. They have like interests. They don't need to call a meeting. They know what's good for them." - George Carlin[0] When you have a situation like this, it is, in my view, the role of government to step in and break up these companies. [0]https://www.youtube.com/watch?v=VAFd4FdbJxs https://www.youtube.com/watch?v=VAFd4FdbJxs