Nobody is saying inflation doesn't exist.
By your logic any price hike is to be accepted and not questioned because "basic economics"...
You have a lot of faith in a lot of people who's sole purpose in life is to make more money than they did last year.
Bizarre non sequitur.
> By your logic any price hike is to be accepted and not questioned because "basic economics"...
No it doesn't. But by your logic, surge pricing is theft.
I have no particular faith in people. I observe that there's all kinds of irrational, nonsense beliefs scorned by mainstream economists that are popular among certain groups. "Greedflation" is dumb economic populism, nothing else.
X causes Y doesn't mean Z cannot cause Y too.
You might want to reconsider that your 'basic knowledge of economics" isn't enough to explain everything.
https://australiainstitute.org.au/post/oecd-confirms-that-in...
https://www.npr.org/2023/05/19/1177180972/economists-are-rec...
https://www.investmentmonitor.ai/news/corporate-profits-resp...
https://www.ineteconomics.org/perspectives/blog/profit-infla...
Like I said, in any social mileu there are insane things that are commonly believed. Providing evidence that people believe in "greedflation" doesn't contradict that at all.
Try actually reading the article before commenting. The article does not say that inflation is caused by greed. Not even close.
Here is the study: https://www.ippr.org/files/2023-12/1701878131_inflation-prof...