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I'll try to be constructive here. We're looking at a single data point and saying "greed". There are many motions across the fast food industry. it's likely cu
by tonymet 3y ago
I'll try to be constructive here. We're looking at a single data point and saying "greed".
There are many motions across the fast food industry. it's likely customers are trading down from high status (now unaffordable) restaurants into mcdonalds, and now mcDs can charge those customers a bit more.
this has much more explanatory power and is more plausible than "greedy" . It's also verifiable.
"greedy" can't be observed , or verified. it's not empirical.
- fireflash38 3y agoIf you want to remove all agency from it, we can go there. They're seeing they can raise prices and not suffer (immediate) harm. So they do. It's that simple. Maybe they can successfully pawn off blame for the price increases elsewhere (OPEC, inflation, whatever). But it tends to fall flat when you see record profits. We're getting squeezed for whatever they can get from us.
- tonymet 3y agowhat changed?