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We just tried that and inflation exploded.

by BobbyJo 3y ago

SketchySeaBeast 3y ago
Somehow a lot of haves were mixed in there too, which may have been the problem.
deleted 3y ago
[deleted]
dfxm12 3y ago
It sucks that we had to pay 1.5x as much for a dozen eggs during and shortly after that global pandemic, but put blame where it is due, and it is not really due to your neighbors getting pandemic relief. https://thehill.com/business/economy/4057722-greedflation-is-the-new-inflation-as-corporate-profits-balloon-report/ https://thehill.com/business/economy/4057722-greedflation-is...
- BobbyJo 3y ago
  I don't get what point you're attempting to make. Your comment suggests you think inflation came from from pandemic (a loss in productivity?), the the link is about corporations sopping up the extra cash that was floating around via raising prices. The latter would fall into the bucket of government handouts to the bottom cause inflation, would it not? If you're skipping the monetary interaction and saying "it's not the handout, it's the greed", then I'd like to point out that companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade. That corporations would take advantage of poor people having more money to spend is intended behavior, and something that needs to be accounted for in functional monetary policy.
  - KittenInABox 3y ago
    > companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade This isn't true. Companies only started to maximize profits under shareholder value recently. Corporations originally were thought to have a responsibility to society at large, thus with things like pensions being provided to their employees. Additionally, the small handouts to the poor are much more dwarfed by handouts to the employers at the time. Which made it baffling that large employers then raised prices anyways, when they already got the vast majority of covid relief money. No, it is pure greed.
  - djbusby 3y ago
    Yea. Tax those corporate profits and tax those wealthy C-suites. Then the taxes help those on the bottom rung; and the circle continues. Accumulation at the top blocks the flow.

We just tried that and inflation exploded.

SketchySeaBeast 3y ago

Somehow a lot of haves were mixed in there too, which may have been the problem.

deleted 3y ago

[deleted]

dfxm12 3y ago

It sucks that we had to pay 1.5x as much for a dozen eggs during and shortly after that global pandemic, but put blame where it is due, and it is not really due to your neighbors getting pandemic relief. https://thehill.com/business/economy/4057722-greedflation-is-the-new-inflation-as-corporate-profits-balloon-report/ https://thehill.com/business/economy/4057722-greedflation-is...

BobbyJo 3y ago
I don't get what point you're attempting to make. Your comment suggests you think inflation came from from pandemic (a loss in productivity?), the the link is about corporations sopping up the extra cash that was floating around via raising prices. The latter would fall into the bucket of government handouts to the bottom cause inflation, would it not? If you're skipping the monetary interaction and saying "it's not the handout, it's the greed", then I'd like to point out that companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade. That corporations would take advantage of poor people having more money to spend is intended behavior, and something that needs to be accounted for in functional monetary policy.
- KittenInABox 3y ago
  > companies have been behaving the same way forever (trying to maximize profits), yet inflation has been low for a decade This isn't true. Companies only started to maximize profits under shareholder value recently. Corporations originally were thought to have a responsibility to society at large, thus with things like pensions being provided to their employees. Additionally, the small handouts to the poor are much more dwarfed by handouts to the employers at the time. Which made it baffling that large employers then raised prices anyways, when they already got the vast majority of covid relief money. No, it is pure greed.
- djbusby 3y ago
  Yea. Tax those corporate profits and tax those wealthy C-suites. Then the taxes help those on the bottom rung; and the circle continues. Accumulation at the top blocks the flow.