this post was submitted on 05 Nov 2023
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Ah yes, "we" let them and not regulators failing to regulated them.
(food companies all raise prices.)
"Well I'm not letting them get away with that, I'll starve to death, that will teach them!"
(Electric companies raise prices)
"Screw you too! I'll sit in the heat and darkness!"
(Gas companies raise prices)
"Ha! I'm already used to this from the last 2, I'll just walk 4 hours to work and live with no heat in the northeast us! No prob!"
Yeah... We "let" this happen.... Ffs...
And then some smaller company goes, "wait a sec, you're telling me I can increase my market share a bunch if I don't raise prices? Cool, let's do that. I can make a bunch of money on volume." And then some other company does the same thing, and so on until they all do. UNLESS an input into that industry has gone up in price and they all have to raise just to stay afloat. Then we're back to talking about inflation, supply chains, and money supply instead of companies just choosing to raise prices due to greed or something.
UNLESS the smaller set of players and lack of enforcement of toothless regulation allows them or even incentivizes them to engage in collusion and price fixing.