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Explaining the inflation rate (lemmy.world)

submitted 3 months ago by [email protected] to c/whitepeopletwitter

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[–] [email protected] 9 points 3 months ago (1 children)

Economics 101 has taught the supply/demand curve forever. Really it's the barriers to entry lesson that's much more important.

It's rare that prices are based on costs. We're not Amish. Prices are based on what companies can get you to pay and how easy it is for them to prevent too much competition. (If it's just a little competition, all sides will implicitly agree that higher prices are better for all of them).

[–] [email protected] 1 points 3 months ago

fucking amen. If supply and demand was actually followed then we wouldn't hear this "No OnE WaNtS tO wOrK!" bullshit, they'd properly raise wages since theres a SHORTAGE of workers for them and they have a DEMAND.

but nope. that "law" only applies when they want it to.