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Regarding greedflation the author writes: In healthy markets this greed is checked by competitors undercutting them. We don’t have healthy markets in key area
by skhunted 2y ago
Regarding greedflation the author writes:
In healthy markets this greed is checked by competitors undercutting them.
We don’t have healthy markets in key areas of the economy. There has been massive consolidation and what we have now is akin to cartel pricing.
Regarding the McDuck fallacy the author writes:
These companies then use the money for their growth, operations, r&d, job creation, etc.
Our capitalist system is very good at extracting profits and driving down labor costs. The surplus goes primarily to those who have stocks and other investments. This overwhelmingly benefits those at the top. A few people in the U.S. have more wealth than the bottom 150 million people. It’s an obscene situation. The distribution of resources is grossly unfair.