I’m not saying we measure inflation incorrectly, I’m saying I’m annoyed when people act like greed isn’t a part of it. And yes, by greed I mean “anti competitive practices”.
I have yet to meet anyone who had a strong opinion that anticompetitive practices were not happening. Usually when I talk about inflation, we discuss numerous factors like shortages, the fed interest rate, how some amount of inflation is reasonable to maintain a stable market, etc. And then one of us will say “and there is probably some price fixing going on that we don’t know about”, and everyone will agree that - knowing how profit-seeking companies work - this is probably the case, but we personally have not seen any strong evidence.
I’m not saying we measure inflation incorrectly, I’m saying I’m annoyed when people act like greed isn’t a part of it. And yes, by greed I mean “anti competitive practices”.
I have yet to meet anyone who had a strong opinion that anticompetitive practices were not happening. Usually when I talk about inflation, we discuss numerous factors like shortages, the fed interest rate, how some amount of inflation is reasonable to maintain a stable market, etc. And then one of us will say “and there is probably some price fixing going on that we don’t know about”, and everyone will agree that - knowing how profit-seeking companies work - this is probably the case, but we personally have not seen any strong evidence.
If you believe that greed is paying into inflation then I’m not talking about you, simple as that.