I don’t think this is how efficient markets are supposed to work.
That’s obscene.
Notice how all the entertainment item such as toys and tv have gotten more affordable over the years, as necessities such as food housing and hospitol services have gotten significantly pricier.
Yeah something’s wrong here.
It’s called a paywall. The rich only look after their own.
This is a pretty good demonstration of why capitalism doesn’t work in practice. One of the core concepts of capitalism is that people will only pay what they can afford so the market will adjust and most things will be affordable to most people. This generally works for leisure items but not essential items.
But, if it’s a choice between death and debt (or other undesirable ways of raising money) people will obviously go with the latter. And if every company that offers essential items/services raises their prices they all benefit, because people will have no choice but to pay more. And the core tenet of capitalism is that businesses should take the action that makes the most profit.
The top five occupations that had higher than a 50% mortality rate increase during the pandemic include cooks, line workers in warehouses, agricultural workers, bakers and construction laborers.
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