Mark Carney also criticised "far-right populists" and Brexiteers for having a "basic misunderstanding of what drives economies". Ms Truss, who became the shortest-serving prime minister in history when she resigned last year, has defended her policies since leaving office.
  • Bernie EcclestonedEnglish
    -6•1 year ago

    Why? Retailers work on gross margin. Not seen anything outside the energy industry that looks like gouging

    Greedflation has been debunked

    Inflation is the result of economic policy mistakes and war, not corporate avarice

    …

    Ms Lagarde has said that it would be desirable for profit margins in the euro zone to fall. She is right; such a decline would be disinflationary and would restore workers’ share of the economic pie. But that does not mean that a crackdown on corporate greed is needed. Instead, monetary and fiscal policymakers need to continue to correct the error of excessive stimulus by raising interest rates and tightening fiscal policy.

    The right lesson to draw from the past two years is not that companies have got greedier, but that workers suffer when policymakers let inflation run out of control. All the more reason, in short, to care about price stability in the first place. ■

    https://www.economist.com/leaders/2023/07/06/greedflation-is-a-nonsense-idea

    • HelloThere
      7•1 year ago

      Ah, I didn’t realise it was you, I’ve learnt my lesson not to bother arguing basic economics with you.

      Btw, that economist article contradicts your first comment. But you do you hun.

      • Bernie EcclestonedEnglish
        -4•1 year ago

        Lol, superiorly incorrect. Nice mix, and with an ad hominum straight off the bat. Bravo!

        You said:

        Pssst, when you have increasing prices and record profits, that’s not inflation, it’s price gouging.

        That’s literally what inflation is, unless you prefer the monetary theorists version, like I do, to say that increasing M2 money supply is actually inflation.

        How does it contradict my first comment? Or do you not understand gross margin?

        Edit. I guess not.

        • HelloThere
          0•1 year ago

          It’s not an ad hominem to say “given my experience last time I tried to discuss economics with you, I’m choosing to not do it again”.

          • Bernie EcclestonedEnglish
            -1•1 year ago

            And yet you can’t answer my questions… I think it might be you that doesn’t understand basic economics

            I don’t recall our previous conversation either