They keep raising prices, stating that it’s due to inflation, but then they keep having record profits.
Meanwhile, the average American can barely afford rent or food nowadays.
What are we to do? Vote? I have been but that doesn’t seem to do much since I’m just voting for a representative that makes the actual decisions.
dude, there is no evidence for supply side economics to have ever worked, the price has nothing to do with supply and demand
This is completely wrong lol
They’re not really talking about Supply Side Economics. SSE is a macroeconomic theory about cutting taxes in the hopes rich people having more money will invest in the economy and then the money will “trickle down”. You’re right that it doesn’t work.
They’re gesturing at supply and demand having an effect on prices which every economic school I’m aware of agrees about, Marx to Chicago. Supply and demand certainly starts becoming less of a factor in monopolistic and inelastic markets when you don’t have a choice not to buy. In the case of food you can choose to spend less by buying less meat and processed goods. That will have an effect. If not done en mass the effect probably won’t matter. It’s an effective survival strategy though.
I agree they’re not advocating the most effective praxis. I think more effective alternatives like buying clubs and food co-ops would start generating alternative economies. Political advocacy, local and federal could also have an effect but I expect every victory to be rolled back as soon as convenient.
SSE is larger than just trickle down, and ironically not every school of economics accepts the supply/demand model, and some who do, also criticize it as being dysfunctional