Increased #corporate #profits were the cause of nearly half of the #eurozone #inflation in the last two years (IMF data).

So we need, in order of effectiveness a combination of #publicownership , #pricecontrols or at least #windfalltax . Not doctrinaire #Interestrate rises that may well drive the zone into #recession. Again.

Even in #Germany, which suffers from the most doctrinaire, anti-empirical and homogenous #economics profession on the planet, people are beginning to admit the Isabella Weber may be substantially right about #inflation and #pricecontrols.

https://www.newyorker.com/news/persons-of-interest/what-if-were-thinking-about-inflation-all-wrong

Don't forget her first book was how #china achieved its economic miracle by *not* following the #austerian destruction that was being heaped on the former Soviet block.

last laugh?

economist Isabella Weber published a short article about inflation & was scorned and ridiculed for proposing a “serious conversation about strategic price controls”

Now her ideas have entered the mainstream

#inflation #economics #PriceControls https://www.newyorker.com/news/persons-of-interest/what-if-were-thinking-about-inflation-all-wrong

It makes perfect sense if you’re in on the scheme, n’est-ce pas?

https://medium.com/@sara_causey/greedflation-d38c928ea032

#economy #recession #inflation #thefed #greedflation #stagflation #pricecontrols #unemployment #jobmarket #labormarket

#PriceControls are a form of micromanagement, and they ignore supply and demand. If a price is set too low or isnt adjusted frequently enough, it can wreak havoc, sometimes even causing producers to lose money or get out of the business altogether. This is the opposite of what price controls are intended for: Making sure that people can purchase what they need.

If we instead put a cap on the operating #ProfitMargin (as a maximum percentage), companies will never be forced to operate at a loss as a result, since prices are still allowed to flex based on #SupplyAndDemand. And yet it still puts an upper limit on the contribution of increasing #profits to the problem of #inflation, and prevents price gouging.

Why are we talking about #PriceControls when #ProfitMarginControls are an option?

https://fortune.com/2023/04/05/end-of-capitalism-inflation-greedflation-societe-generale-corporate-profits/

TIL the 1.8% and then 3.4% #inflation of 1956 and 1957 was so unexpected that #Eisenhower considered enacting #PriceControls. People used to consider inflation something that only happened during wartime.

This article focuses solely on the history and doesn't draw any conclusions. It mentions Milton Friedman and the #GoldStandard briefly but not the fact that the #Fed was created just before #WWI.

How Inflation Became a Fact of Life
https://jacobin.com/2023/02/inflation-wwii-uk-us-1950s-normal-prices/

@gemlog
I won't make the strong claim that #PriceControls are never a good idea, but often they are problematic. Price controls generally treat the symptoms of a problem, rather than addressing the root issue. Certainly in the Canadian health care system, they make it much more difficult to equilibrate supply and demand, which is I think is an answer, at least in part, to your question.

/fin

@donald

Nixon’s #pricecontrols Aug 1971: “The controls reduced the price levels by about a cumulative 3% b/w July 1971 and Febr 1974” - in: Alan Blinder’s new #book @PrincetonUPress Dec 2022 https://cutt.ly/M0tezMG

What’s causing current inflation: free markets or freeriding?

Companies with market power are increasing prices beyond rising energy costs—because they can…

#PriceControls
#CostOfLivingCrisis
#WindfallTax
#WealthTax

https://socialeurope.eu/inflation-free-markets-or-freeriding

#Inflation #USA #InterestRates #PriceGouging #WindfallTax #PriceControls According to #RobertReich raising interest rates causes many ordinary people to lose their jobs. He states that inflation is being caused by corporate price gouging. He proposes corporate windfall taxes and *temporary* price controls.
https://www.youtube.com/watch?v=QYC9RMEZjTQ

#SubscribeNow
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Who else is sick of bloodsuckers,
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Who else remembers the good days
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They’d make us slaves to the ongoing payment.Squeezing as long as we live.
Chewed up they’ll finally forsake us,
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These blood suckers think they’re so clever. But it’s famine this horse that they ride.
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It’s just not enough to buy standard. From leaches buy nothing at all.
Reward the honest producers. Let the blood suckers take the fall.

#Activism #SocialJustice #Justice
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#FuckTheBloodSuckers

(I’m having a very #Feisty day today)
.
Who else is sick of blood suckers.
With subscriptions the way they attach?
Who else remembers the good days
of a single fair price and that’s that.
.
They’d make us slaves to the ongoing payment.Squeezing as long as we live.
Chewed up they’ll finally forsake us,
when we finally have no more to give.
.
These blood suckers think they’re so clever. But it’s famine this horse that they ride.
In the end we will all reap the whirlwind. Society will not survive.
.
Punish the suggested subscription. Wipe your feet as you walk out the door.
The thing you should know about blackmail is they’ll always come back for some more.
.
It’s just not enough to buy standard. From leaches buy nothing at all.
Reward the honest producers. Let the blood suckers take the fall.
.
#Activism #SocialJustice #Justice
#capitalism #neoliberalism #economics #pricecontrols
#poetry #Poem

https://www.bbc.com/news/technology-63743597

#FuckTheBloodSuckers

(I’m having a very #Feisty day today)

Who else is sick of blood suckers.
With subscriptions the way they attach?
Who else remembers the good days
of a single fair price and that’s that.

They’d make us slaves to the ongoing payment.Squeezing as long as we live.
Chewed up they’ll finally forsake us,
when we finally have no more to give.

These blood suckers think they’re so clever. But it’s famine this horse that they ride.
In the end we will all reap the whirlwind. Society will not survive.

Punish the suggested subscription. Wipe your feet as you walk out the door.
The thing you should know about blackmail is they’ll always come back for some more.

It’s just not enough to buy standard. From leaches buy nothing at all.
Reward the honest producers. Let the blood suckers take the fall.

#Activism #SocialJustice #Justice
#capitalism #neoliberalism #economics #pricecontrols
#poetry #Poem

https://www.bbc.com/news/technology-63743597

#FuckTheBloodSuckers

(I’m having a very #Feisty day today)

Who else is sick of blood suckers.
With subscriptions the way they attach?
Who else remembers the good days
of a single fair price and that’s that.

They’d make us slaves to the ongoing payment.
Squeezing as long as we live.
Chewed up
they’ll finally forsake us,
when we finally have no more to give.

These blood suckers think they’re so clever.
But it’s famine this horse that they they ride.
In the end we will all reap the whirlwind.
Society will not survive.

Punish the suggested subscription.
Wipe your feet as you walk out the door.
The thing you should know about blackmail
is they’ll always come back for some more.

It’s just not enough to buy standard
From leaches buy nothing at all.
Reward the honest producers.
Let the blood suckers take the fall.

#Activism #SocialJustice #Justice
#capitalism #neoliberalism #economics #pricecontrols
#poetry #Poem

https://www.bbc.com/news/technology-63743597

Current #inflation rates in G8+ countries, by percentage.🌎️

Why hasn’t a single one of these gvts discussed/mentioned/considered price controls? Even for a short period. 🤨🤔

Japan 3.7
France 6.2
Canada 6.9
Australia 7.3
Spain 7.3
US 7.7
Germany 10.4
UK 11.1
Italy 11.8
Netherlands 14.3

Forbes: “Inflation is a hugely damaging force that can see household wealth evaporate overnight”. Oh, really? 🙄

#capitalism #neoliberalism #economics #pricecontrols

#PriceControls have failed for 4,000 years – and humans still haven’t learned #economiccollapse

https://www.naturalnews.com/2022-09-14-price-controls-have-failed-for-4000-years.html

#PriceControls have failed for 4,000 years – and humans still haven’t learned #economiccollapse

https://www.naturalnews.com/2022-09-14-price-controls-have-failed-for-4000-years.html

#Government #pricecontrols come at a cost #marketcrash #collapse

https://www.naturalnews.com/2022-07-22-government-price-controls-come-at-a-cost.html