Discover and read the best of Twitter Threads about #greedflation
Most recents (5)
David Roth memorably described the job of neoliberal economists as finding "new ways to say 'actually, your boss is right.'" Not just bosses: economists are a bulwark against obvious answers to our worst agonies: wages, education, health and shelter:
popula.com/2023/04/30/yak…
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popula.com/2023/04/30/yak…
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If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/05/16/mor…
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pluralistic.net/2023/05/16/mor…
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How can we solve the student debt crisis? Well, we could cancel student debt and regulate the price of education, either directly or through free state college.
How can we solve America's heath-debt crisis? We could cancel health debt and create #MedicareForAll.
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How can we solve America's heath-debt crisis? We could cancel health debt and create #MedicareForAll.
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Today's Twitter threads (a Twitter thread).
Inside: Hollywood is the single best example of mature labor power in America; On the Media on the enshittification (pt 1); and more!
Archived at: pluralistic.net/2023/05/06/peo…
#Pluralistic
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Inside: Hollywood is the single best example of mature labor power in America; On the Media on the enshittification (pt 1); and more!
Archived at: pluralistic.net/2023/05/06/peo…
#Pluralistic
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Today (5/6), I'll be in #Berkeley with my book *Red Team Blues* at the #BABF2023 for a 3:30PM event with @glynnwashington:
baybookfest.org/session/cory-d…
Tomorrow (5/7), it's an 11AM event with @dellsystem for my book *Chokepoint Capitalism*:
baybookfest.org/session/chokep…
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baybookfest.org/session/cory-d…
Tomorrow (5/7), it's an 11AM event with @dellsystem for my book *Chokepoint Capitalism*:
baybookfest.org/session/chokep…
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Weds (May 10), I'm in #Vancouver for a keynote at the #OSSummit:
events.linuxfoundation.org/open-source-su…
And a book event at #HeritageHall:
eventbrite.ca/e/red-team-blu…
On Thu (May 11), I'm in #Calgary for @WordfestTweets:
wordfest.com/2023/event/wor…
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events.linuxfoundation.org/open-source-su…
And a book event at #HeritageHall:
eventbrite.ca/e/red-team-blu…
On Thu (May 11), I'm in #Calgary for @WordfestTweets:
wordfest.com/2023/event/wor…
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Call me a conspiratorialist, but when CEOs brag on earnings callsabout how covid, war, and #inflation scare-stories them hike prices and rake in never-before-seen margins, I think it's reasonable to blame inflation on greed, not on workers getting a couple of covid checks.
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If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/05/05/wmd…
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pluralistic.net/2023/05/05/wmd…
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Amazingly, this is controversial! For more than a year, Very Serious People dismissed the #greedflation hypothesis - that CEOs aren't lying when they boast about using pretexts to hike prices - is a conspiracy theory used to dupe people who Just Don't Understand Economics.
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Profit-led inflation (#greedflation or #excuseflation) is the third inflation wave since the pandemic. It is starting to attract increased media attention, which could well be its undoing. So what is it, how widespread is it, and what can be done? A🧵
Profit-led inflation is not a demand surge allowing higher margins. Profit-led inflation occurs when companies spin a fairy tale to persuade people profit margin expansion is "fair" - the price elasticity of demand is lowered. Prices up with stable demand.
This is very different from the demand-led transitory inflation of 2021 (everyone rushing to buy flat screen TVs), or the energy supply shock inflation of March 2022. But this has been around for a while, and was the main inflation driver late Q3/early Q4
ft.com/content/837c38…
ft.com/content/837c38…
Inflation is not caused by government, but rather a lack thereof. It’s caused by unfettered capitalism & greed culture—where a CEO is duty-bound to feed the insatiable shareholder as much as possible. Your high grocery bill is going to record profits, not carbon tax.#greedflation
To add: all of the arguments I’ve seen are about carbon pricing on transport, heating the store, etc. These are Conservative taking points designed to confuse the ignorant into blaming the government for something caused by a *lack* of government regulation.
So in a way, I blame the government too. Not for carbon pricing though, for a lack of regulation on excessive and opportunistic profiting from basic human needs.
