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Inflation due to wages increases to underpaid people should not be opposed [1]

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Date: 2023-02-24  

There are nitwit “policy makers” who think all inflation is bad.

Inflation is virtuous and good when it comes from raising the pay of underpaid workers. They get paid more and we pay a bit more for the services or stuff they produce.

However, I see a lot of price increases from big business that deserve very close scrutiny to make sure they are not just taking advantage of an atmosphere where price increases are happening because of shortages caused by supply chain bottlenecks and because of the rise in oil prices and because underpaid labor is being paid more.

A few weeks back at Home Depot I saw six outlet power strips being sold at a much higher price than on Amazon and I said to myself “This looks like flagrant price gouging”.

Major price disparities are one red flag indicating gouging.

But if businesses collude in raising prices, there will be no disparities. And Bloomberg radio reports high corporate earnings…. which tells me that much of the inflation comes from immoral levels of corporate profiteering .

So… policy should not be to prevent the wages of underpaid workers from rising. It should be to stop fat cats from taking advantage of an inflationary surge.

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[1] Url: https://www.dailykos.com/stories/2023/2/24/2154811/-Inflation-due-to-wages-increases-to-underpaid-people-should-not-be-opposed

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