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As almost everyone knows, inflation is high, and as many of us are also noticing, corporate profits often are even higher, implying consumers are paying
As almost everyone knows, inflation is high, and as many of us are also noticing, corporate profits often are even higher, implying consumers are paying for more than the increases in costs due to inflation from rising gas prices, improving economy and demand for products, etc. According to one report (excerpt copied below), companies over overcharging and there's an offset over an above their costs that consumers are paying resulting in additional profits. Other articles I've read discuss "tacit" collusions. Price-fixing per se is illegal, but if companies do not discuss increasing prices, but merely notice others are increasing their prices and do likewise, it's not illegal. As President Biden noted, in some industries like meat packing there are only a few suppliers. There, this implies one merely needs to 'notice' that two or three of your competitors have raised prices and you can, too, presumably without losing too many customers unless they become vegetarians, etc. What do you think? Elizabeth Warren believes it's greed. Others think it's just maximizing profits
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