General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAOC does a fantastic job of pointing blame on corporations
We need more of this from our representatives. Let's stop pretending it is anything else.
Link to tweet
JohnSJ
(92,061 posts)It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. There is an inverse relationship between the supply and prices of goods and services when demand is unchanged.
Because of the pandemic, trade wars, chip shortages, futures market energy prices, etc. etc. etc.
That has created shortages
Celerity
(43,108 posts)that simple supply and demand doesn't explain the inflation in multiple cases
JohnSJ
(92,061 posts)chip shortages, and the other issues, which made things much worse.
Celerity
(43,108 posts)Cuthbert Allgood
(4,907 posts)Certainly you understand that monopolies can drive prices outside the simplicity of supply and demand.
JohnSJ
(92,061 posts)fall outside of monopolies for the situation we are going through now.
From food prices, housing prices, etc.
Oil, the way it is setup, monopoly like, I would concede would fit into her argument