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price gouging

28 Dec

What’s Happened to the US Economy?

Stacia Wilson0 CommentsArticles, EconomicsBRICS, Consumer Price Index, COVID-19, CPI, debt, economics, economy, fed, fiat, fiat currency, fiat money, gold standard, inflation, Inflation Reduction Act, interest rates, just-in-time supply chain model, M1, Milton Friedman, MMT, oil and gas, petroleum, price gouging, recession, supply chain, USD, Wall Street, windfall profits

With inflation reaching the highest rate in 40 years and a recession looming, what happened to the US economy to create this situation, and what can we expect of the future? There are many theories about the causes of inflation. A very basic formula put forth by famed economist Milton Friedman posits that “Inflation is caused by too much money chasing after too few goods.” This article will use Friedman’s formula as a basic framework for looking at the current causes of inflation and then attempt to integrate economic perspectives from various schools of thought, including Modern Monetary Theory (MMT).…

30 Nov

The Greedflation Hypothesis—are corporations price gouging struggling Americans?

Stacia Wilson0 CommentsArticles, Economicscorporate, corporations, economics, economy, EPI, fed, federal reserve, inflation, Katie Porter, price gouging, profits, windfall profits

This year inflation in the US reached the highest rate in 40 years. Are corporations using the cover of inflation to increase prices and make windfall profits on the backs of struggling Americans? Why does whether this hypothesis is true or not matter so much in the current political landscape? https://twitter.com/ZhiZhuWeb/status/1582490041326059522?s=20&t=hT-qqvBlcmdyu9XOcMZ2cQ What is Inflation and Greedflation? Inflation is a measure of how much the price of goods and services has increased over a period of time. Consequently, it means each dollar is able to buy less, and thus is worth less. A simple maxim by economist Milton Friedman states that…

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