Axios Finally Figures Out Corporations ARE Gouging Consumers For Profits
View Source | May 18, 2023 11:48 am
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- The idea that corporate thirst for profits drives up inflation, aka “greedflation” — once dismissed as a fringe theory — is now being taken more seriously by economists, policymakers and the business press.
- Though inflation is starting to come down, it still remains well above the Fed’s target level of 2%, and understanding what’s causing inflation is key to combatting it — now and the next time.
- The idea that profits drove our current bout of inflation surfaced in the last few years among progressive economists and lawmakers but was waved away by more mainstream types as a “conspiracy theory.” That changed earlier this year.
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