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"When workers get pay increases, they think it's their own work; when they see inflation, they think that's bad policy" - Dean Baker I think both wages & price
by verteu 2y ago
"When workers get pay increases, they think it's their own work; when they see inflation, they think that's bad policy" - Dean Baker
I think both wages & prices around the time of covid, and it's easy to manufacture dissent over this (due to the above quote).
- unclebucknasty 2y agoI'm not referring to policy as much as actual economic activity and firm behavior, including pricing. It's true that prices and wages increased through COVID, but I don't believe the full explanation is quite so neat. For instance, this article lays out some additional details.[0] Essentially, commodity pricing and other production inputs have stabilized, however, companies are charging their customers higher prices and enhancing their margins. This is yielding record corporate profits and helping to fuel the bull market while consumers end up eating the resulting inflation. Yet, there's relatively little discussion about it when the issue of inflation is raised. [0] https://archive.is/ZTkw3 https://archive.is/ZTkw3