this post was submitted on 24 Aug 2023
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Mildly Infuriating
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Why do stating profits vs profit margins matter? On that note, what do you think sounds better in an announcement to the general public - "we made record profits", "we increased our profit margins by shrinkflation and charging more", or both? I'd argue the first - if they cut costs or increased sales that would be worth bragging about, but charging more isn't something you really want to directly call attention to
Why does collusion vs tacit agreements matter? Consolidation of industries and regulation is why it's possible and is very relevant, but doesn't address the core question
Ultimately, groups of humans behave differently than the individuals they're made up of. Sometimes they even do things no individual member wants to happen - market forces are in this category of emergent properties.
You seem to think greedflation is a bunch of cigar smoking men in a room saying "there's a war on boys, what say we jack up prices again?"
It's about what companies are doing, not individuals. Companies are using the little ripples in the supply chain from every global problem to ratchet up prices in sync, and there's not enough regulation or competition to make them lower them back down.
That's what greedflation is - companies being greedy in sync across an industry,
Did you listen to the NPR report? I don't understand how you still have these questions.