Comment

Comment by Manuel_D

The whole "greedflation" narrative still doesn't seem plausible. Why wouldn't one company reduce prices and capture the market share from the companies that artificially raised prices? In order for the "greedflation" to work, there must be some collusion in terms of price setting. This does happen in the market, but it's illegal and governments do take action against price-fixing [1]. A much more plausible explanation is that the economy as a whole had a massive rebound after the pandemic, and the record profits are just a byproduct of that rebound.

1. An example from my State: https://www.atg.wa.gov/news/news-releases/406-million-way-lo... It's not always super high-profile, but lawsuits against anti-competitive practices happen all the time.

parent Manuel_D 2 years ago

Discussion

Live from the official Hacker News API

A modern reader for Hacker News · SvelteKit + Skeleton