@ApostateEnglishman @ChrisMayLA6

That is the mainstream theory, but its assumptions are so short of reality, that it is fallacy of omission.

Inflation comes from those who can raise prices. Austerity comes from those who cannot.

Which is to say that if a large company decides to raise prices, the consequences cascade throughout the economy, and those that can raise prices will, and those who can’t inflict austerity by cutting back somewhere else.

https://economicsfromthetopdown.com/2022/12/15/inflation-everywhere-and-always-differential/

@ApostateEnglishman @ChrisMayLA6

The wealthy are affecting the market in different ways largely through monopolization (economic consolidation).

Private equity has purchased a significant amount of housing stock in certain regions. They force the price up significantly.

In the US, there are two major national food, chains Kroger and Albertsons.