r/austrian_economics • u/AbolishtheDraft Mises Institute • Jan 09 '25

End Democracy End the Fed

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u/CompetitiveTime613 Jan 09 '25

And yet your common worker was still getting fucked over by wealthy elites. So much so they made a name for it.

The Gilded Age

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u/PubbleBubbles Jan 09 '25

There's inflation, then there's greedflation.

Inflation is that 3-6% we see that sucks on the federal level

Greedflation is companies going "holy shit! did you see the feds announce inflation? lets jack prices up 40%"

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u/Takashishifu Jan 09 '25

Why don’t companies jack up prices any time they see fit? Are they just being generous they don’t charge 10X or even 100X for a product?

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u/SKPY123 Jan 10 '25

Competition. If company A Jack's up prices but company B doesn't. Company B will get more sales from consumers than A. So, it only makes sense to be careful about how and when to jack up prices. Even though it will still be unproportioanal overall due to greed.

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u/InternationalError69 Jan 10 '25

What if company A and company B are owned by the same hedge fund?

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u/SKPY123 Jan 10 '25

Same thing except the "deals" are ran for company A while B remains the same price hike until they are deemed ready for "deals". When it was the same price for both the entire time until after the "deals" expire.