Hey there,

The last year or so I keep hearing the term ‘Greedflation’ pop up more and more. The Idea here is that there are greedy capitalists that are raising the prices on goods and services faster than their own costs are increasing and this is causing prices to rise.

Now if I think about it inflation is always based on some price increasing, and sometimes because there is some shock that limits how mch of something is available. Oil is scarce because of some natural disasters or war, food is scarce because of drought, etc.

Most of the time there are other sources of the same resources (different crops), or the resource was horded before (‘strategic’ oil reserves), in both cases someone is able to charge more (eg Profit) from the situation.

So now it sound to me that normal inflation and greedflation are both simply based on one entity in the supply chain increasing the price to take advantage of the situation. Whether you call it greedflation or not depends on whether your personal “in” group is profiting from or or not.

Where is my thinking error here? Is greedflation a real thing?

    • kautau@lemmy.world
      81·
      2 years ago

      No no you don’t understand. Every single company needs to double its profits every quarter until we can find a way to turn matter itself into profit, consume all of it, and become pure energy, setting ourselves up for the next big bang. The growth must continue until all existence is consumed

        • Vendetta9076@sh.itjust.works
          2·
          2 years ago

          Yeah… You’re arguing points I never disagreed with. Just because I think greedflation is a moronic term doesn’t mean Im a gaslighter lmao. Price gouging is an awful practice. It is actually illegal in the civilized world, unlike America.

          I dont care if get woke to broke is a real phenomena or not. My point is that its a political chant. So is greedflation. The actual term is price gouging. Its an actual real term not driven by american political nonsense.

          Take a deep breath and a step back mate. You’ll feel better.

        • drphungky@lemmy.worldEnglish
          1·
          2 years ago

          You might want to read this comment I posted elsewhere on the thread, but greedflation objectively isn’t a thing, at least not in the US during and immediately after the COVID epidemic. It definitely feels like it, as one can tell from your…heated rhetoric, but that’s due to a lot of other issues, not because it actually happening.

          So-called “shrinkflation” is definitely real, but I don’t think anybody is arguing otherwise, and it’s not exactly a new phenomenon. It’s been happening and being measured for decades and decades.