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this post was submitted on 21 Nov 2023
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A Boring Dystopia
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"Just eat less avocado toast."
Are we going to pretend inflation isn’t also being driven by people acting cavalier? Because non essential spending is still way up last time I checked. People don’t seem to be objecting to the prices at all where it counts.
Yes, because inflation is not driven by people spending money. Spending money drives the economy. Inflation means the prices of goods and services are going up. That is driven by scarcity of resources, scarcity of goods, workforce shortages, and more often than not, pure greed.
If you're arguing that prices are going up because businesses think people have too much money to spend, and want a bigger piece of the pie, then you've literally restated the original point of this thread.
Only scarcity causes prices to go up, and not demand? Ok. Sure. Ha.
I never said 'only scarcity', but sure, have your gotcha point.