this post was submitted on 21 Aug 2023
246 points (95.9% liked)

Australia

3620 readers
69 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

Banner Photo

Congratulations to @[email protected] who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @[email protected] and @[email protected]

founded 1 year ago
MODERATORS
 

Non-paywall link.

TL;DR: economists are still stuck in the idea of the market as a perfect force for reaching optimal outcomes. They're ignoring the simple fact that businesses are putting prices up purely to increase profits. And that they can do this because the economic ideal of perfect competition (where many small firms compete with near-identical products) does not exist. We have a small number of very powerful businesses—oligopolies—in nearly every market for consumer-facing goods.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

Well yeah, universities have been starved of government funding for decades, so they raised tuitions, and have been turning to philanthropy to build new infrastructure. And you can bet that the funding for that new building came with more strings attached than just naming it after John Q Richcunt.