this post was submitted on 03 Jul 2024
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When the majority gets more money companies raise prices and you feel poor anyway. Mass wage increase sounds nice in the short term but leads to all the inflation articles you've read recently. Money feeds up. This can be prevented by reduced demand for goods and services. As in, when you obtain disposable income you... Don't dispose of it.
Energy, living costs it can't be done. Necesities. But a lot of areas you can make real change by voting with your dollar. For example, if you don't think the new iphone should cost 2 grand because that's absurd then don't validate the company's plan by buying it. Reduced demand causes reduced price until we find a balance. That's how this horrible evil capitalism is supposed to work.
One of the problems is we as consumers suck at voting. We want the new iphone. So a majority of us buy it anyway. On credit. And Apple raises the price next year becase "it worked last time"
Corporate greed is part of what I laid out. Inflation is complex and happens regardless. Certain things can have a larger impact on the rate of inflation. Introducing monetary supply in the form of wages or stimulus is one of those things. I'm all for higher wages. What I am trying to get across is that we also need to recognize the impact we have. Corporate greed exists. People want money. It makes sense. It is further driven by us having the money to take in the first place. If the product or service doesn't get purchased the price lowers until it does and/or the business fails. All I am saying is we as consumers could do a better job being mindful of this. We don't have very much control in this system, but we do have some. Of course we're not united in this so it probably doesn't matter. If you don't buy the 2k phone your neighbor probably will.