I love how people completely forgot the Eisenhower days when he completely got it wrong that somehow increasing prices were businesses' fault (by trying to tell consumers to pay less for goods), and now we've learned the lesson that monetary policy is shaped by interest/money injection and controlling government spending and debt.
Even though we know this, and economics 102 still teaches this, somehow now it's popular to believe that inflation is caused by "corporate greed" because somehow, corporations decided July 2021 was the day to start being 8% more greedy.
I love how people completely forgot the Eisenhower days when he completely got it wrong that somehow increasing prices were businesses' fault
If prices rose because corps are greedy (which they are), how come they didn't raise prices before Biden took office? And when prices fall, does that mean corps are benevolent?
Even though we know this, and economics 102
Why not 101? Because that's micro-economics and 102 is macro-economics?
Yes, microeconomics doesn't cover inflation it just deals with consumers, competition and supply & demand - macro covers the effects of monetary policy, minimum wage and labour values and global trade.
I love how people completely forgot the Eisenhower days when he completely got it wrong that somehow increasing prices were businesses' fault (by trying to tell consumers to pay less for goods), and now we've learned the lesson that monetary policy is shaped by interest/money injection and controlling government spending and debt.
Even though we know this, and economics 102 still teaches this, somehow now it's popular to believe that inflation is caused by "corporate greed" because somehow, corporations decided July 2021 was the day to start being 8% more greedy.
If prices rose because corps are greedy (which they are), how come they didn't raise prices before Biden took office? And when prices fall, does that mean corps are benevolent?
Why not 101? Because that's micro-economics and 102 is macro-economics?
Yes, microeconomics doesn't cover inflation it just deals with consumers, competition and supply & demand - macro covers the effects of monetary policy, minimum wage and labour values and global trade.