Classic inflation was a factor, but it seems to me that corporations are increasingly gaming the system. Take some of the screw-ups that we were in the news post the pandemic due to staff shortages, not (from what I have read) because new hires were not available, but because companies wanted to accept increased business without adding s…
Classic inflation was a factor, but it seems to me that corporations are increasingly gaming the system. Take some of the screw-ups that we were in the news post the pandemic due to staff shortages, not (from what I have read) because new hires were not available, but because companies wanted to accept increased business without adding staff. Shrinkflation pre-dates the pandemic, but has been on a roll since. And in my experience, at least overall, prices have not come down as better equilibrium has been established even if the rate of price rise has dropped. Also, I strongly suspect "real wages" figure is pretty unevenly shared in the real world. I am not net better off financially tha pre-pandemic, but I'm retired. I suspect a good many full time workers are in the same boat.
Here's something from Forbes....Of course real wage increases are unevenly shared. I have no theory of how modern capitalism works other than to think oligopolies and monopolies tend to set things more to their advantage than otherwise. btw they've been around a long time. If i also hear you rightly, global pandemic inflation was a giant corporate conspiracy, right? https://www.forbes.com/sites/johngoodman/2024/08/30/the-greed-theory-of-inflation/
Classic inflation was a factor, but it seems to me that corporations are increasingly gaming the system. Take some of the screw-ups that we were in the news post the pandemic due to staff shortages, not (from what I have read) because new hires were not available, but because companies wanted to accept increased business without adding staff. Shrinkflation pre-dates the pandemic, but has been on a roll since. And in my experience, at least overall, prices have not come down as better equilibrium has been established even if the rate of price rise has dropped. Also, I strongly suspect "real wages" figure is pretty unevenly shared in the real world. I am not net better off financially tha pre-pandemic, but I'm retired. I suspect a good many full time workers are in the same boat.
Here's something from Forbes....Of course real wage increases are unevenly shared. I have no theory of how modern capitalism works other than to think oligopolies and monopolies tend to set things more to their advantage than otherwise. btw they've been around a long time. If i also hear you rightly, global pandemic inflation was a giant corporate conspiracy, right? https://www.forbes.com/sites/johngoodman/2024/08/30/the-greed-theory-of-inflation/