It’s a chicken and egg problem here. You’re saying that prices never fall because people don’t lower demand, but I would instead argue that Americans don’t seem to understand that reduced demand lowers prices simply because we have literally never once seen that actually happen in practice due to corporate greed.
I would say that’s only really become the norm in the last 15-20 years at most. That’s when giant corporations had fully gobbled up smaller companies and have such large warchests of money that they moved from “we’re selling less, we need to drop prices to unload product” to “we’re selling less, we need to raise prices to increase profits on the small amount we actually sell.” That was what famously recently motivated McDonald’s to raise prices, they were actually aiming at chasing fewer customers with higher prices to offset the lost sales.
So, I’d say in the modern era of giant consolidated food corporations, and giant consolidated corporations in general, sadly, you’re correct.
Basic economics and understanding that reducing demand reduces prices is… not US citizens strong suit.
Instead we have seniors driving in circles around town wasting gas looking for cheap eggs. It’s fucking insanity.
I never ate many eggs to begin with, so the whole god damned thing blows my fucking mind. It was not hard to be like "welp, not buying those anymore.*
It’s a chicken and egg problem here. You’re saying that prices never fall because people don’t lower demand, but I would instead argue that Americans don’t seem to understand that reduced demand lowers prices simply because we have literally never once seen that actually happen in practice due to corporate greed.
I would say that’s only really become the norm in the last 15-20 years at most. That’s when giant corporations had fully gobbled up smaller companies and have such large warchests of money that they moved from “we’re selling less, we need to drop prices to unload product” to “we’re selling less, we need to raise prices to increase profits on the small amount we actually sell.” That was what famously recently motivated McDonald’s to raise prices, they were actually aiming at chasing fewer customers with higher prices to offset the lost sales.
So, I’d say in the modern era of giant consolidated food corporations, and giant consolidated corporations in general, sadly, you’re correct.
Amen. Haven’t cooked eggs in several years. I like them, but I definitely don’t need them. We Americans are so fucking spoiled all the time.
I hope it doesn’t come to it, but maybe a Great Depression 2 will teach us to resist the call of instant gratification for once in our lives.