this post was submitted on 14 Feb 2024
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Only temporairally. Prices would fall back down again as competition theoretically kicks in.
You don't really believe that, do you?
The wealth will trickle down eventually 👍
Surely the dragon will be satisfied when we let him eat the next village!
I do. It’s basic market forces.
I say therothetically because the US doesn’t enforce antitrust laws.
Hahaha
Prices usually don't fall. Falling prices are generally seen as really bad. Prices instead stop going up so fast.
To some degree. We’ve seen prices rise in the pandemic and drop back down substantially over time back to pre-pandemic numbers. Look at price trends for construction supplies, for instance. Not sure if that is what you’re referring to, however
Relative to inflation.
Which is "ok" as wages will start to go up over time (for some). But some wages don't climb as fast and some people are on fixed revenue (old people, disabled people).
So it requires readjustments
The thing about competition in capitalism is that it's a fugazi. It doesn't generate better products or better prices resulting in better value for the consumer, it actually has a homogenous effect. Everything becomes samey and then it's a race to the bottom as corners get cut to save on cost to the business.
Capitalism is like water. Powerful. Useful. Should be kept under strict control.