I don't understand why everyone hates the rich. Without them who would...*checks notes*...trash the economy repeatedly with no consequences?
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Tell me you dont understand how economies work without telling me you dont understand.
@freemo @geekysteven The common leftie line is that companies are unnecessarily inflating prices so that they can make record profits. I can’t deny that they are making record profits but I suspect that this isn’t the only reason why they’re raising their prices.
People making such claims have very likely never signed the front of a paycheck.
@midway @geekysteven @freemo That’s a good point.
I’ve heard it said once that corporations behave more ethically under stable economics than in unstable economies, and it makes sense. Even if the leftist line was correct, it’s possible that these CEOs are storing their acorns for the winter so to speak, not inflating prices out of mere greed.
If a financial disaster is impeding, as I suspect it is, there’s no such thing as a company having too much money.
Even if it’s just to make more money, that’s not illegitimate. Businesses exist to make money by serving people. Their goal is to charge as much as they can while maintaining sales. If they charge too much, they will eventually lose market share. But raising prices to increase profits and profit margins is not a crime or even immoral. It’s a normal business practice. There is no “right” price except for what people are willing to accept.
@midway @geekysteven @freemo I largely agree although price gouging for, say, drinking water would certainly be unethical.
Price gouging is illegal by anti-trust laws. You can not manipulate the supply and demand by controlling a vertical/horizontal segment of the industry.
For example if companies intentionally coordinated to increase prices artificially by all agreeing not to compete this would be illegal on any scale, even between just two companies.
