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It's not greed that has varied. It was an inflationary shock. Greed explains why it hasn't gone back down once the shocks are gone. It's basically price collusi
by smeagull 2y ago
It's not greed that has varied. It was an inflationary shock. Greed explains why it hasn't gone back down once the shocks are gone. It's basically price collusion - nobody wants to be the first to decrease prices, so nobody does.
Before the inflation, there wasn't an opportunity to collude in this manner.