Comment by churchill
2 years ago
Whenever I come across this argument I don't even know how to start attacking it because of how asinine it is.
If inflation is a product of corporate greed, do you concede that the fairly stable prices over the years have been a product of corporate benevolence? No, you won't.
The only workable explanation, in Friedman's words is that inflation is always and everywhere a monetary phenomenon. Any other explanation is economically illiterate.
It’s interesting to read all the comments here trying to find any explanation ut. Corporate greed, supply chain issues, Russian gas, etc… How about the base monetary supply inflated 4 times?
Okay so that explains inflation is always around… which part explains why it when from like a decade of 2% to 10%?
And don’t say supply chain because the fed basically discarded that when they finally panicked that it wasn’t transitory like they initially assumed and the scrambled with fast interest hikes.
Greedflation simply means a profit price spiral rather than a wage price spiral.
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