Greedy corporations are not causing inflation. Such is despite the claims of many of those on the political left that failed to understand the very basics of economic supply and demand.
Here is the basic argument by those pushing for a more socialistic agenda:
“Greedy corporations are causing inflation by jacking up prices and enjoying record profits.”
Elizabeth Warren is pushing this particular narrative very hard.
For the majority of Americans who now get their “news” from social media, the uneducated masses now have a new target of hatred for their financial woes.
The problem, as with many of the narratives ramping up the ire of Americans on social media, is it is patently false.
As Michael Maharrey recently penned:
“One simply has to reason through the claim to uncover the absurdity. If corporations can willy-nilly raise prices and enjoy “excessive” profits, why don’t they do it all the time? Did corporations suddenly get greedy in 2021? And why did the Federal Reserve spend a decade fretting about inflation being ‘too low’ as it struggled to hit its 2% target? Was there not enough corporate greed before coronavirus?”