For the publisher:
25% inflation is not caused by 3% wage increases. Even a rudimentary understanding of mathematics should belittle this ridiculous claim. The employer of last resort, the government, has been the largest employer in most states in the United States since former President Clinton shipped all manufacturing overseas with the North American Free Trade Agreement. Wages have stagnated since BUT the rebuild better bill, stuck in the Senate as of this writing, can help reduce inflation by increasing productivity. (The P in gross domestic product depends on the productivity of workers.) Increase GDP by subsidizing with family allowances etc. the low wages paid to women in the United States (think teachers). It will increase productivity. You can urge your senators to get rid of their partisanship; fight inflation by adopting this legislation (Rubio and Scott). We in Florida would also benefit more than most from climate care (also addressed in the Build Back Better bill).
You can also demand that the Federal Bank increase lending rates. When it is more lucrative for the rich to buy and hold land, the prices of unused rents and house prices skyrocket beyond the means of middle incomes and the poor to stay housed. I urge lawmakers to tax land left fallow, but I’m concerned that the very speculators who profit from this dodge are also controlling all state legislatures in the GOP.
Meanwhile, NAFTA continues to outsource work for manufacturing. But the work of service and government remains. If you buy burgers from a business and your server’s salary has gone up by $ 3. per hour at $ 3.09 per hour (2021 average wage increase) that a 0.30 increase did not “require” the company to increase your burger from $ 3 to $ 3.75. (The average increase in price increases was 25% overall.) You don’t experience inflation caused just by increased demand; you are swindled. The reason gas companies charge 0.10 more in one community than one two miles away is based on a complex matrix of what each resident will pay before heading to the next station. The price of the company depends on what the market will bear and they have access to databases and census information that allow the gouge, unless you shop smart.
Fundamental capitalism is still: sellers and buyers fixing a price. You have a certain power based on the willingness to buy a good at the seller’s price. Alternatively, says Adam Smith, you can substitute another good until the seller brings the price of the good down to an acceptable price. If you can replace a cheaper product; the buyer gains the advantage. If you don’t like getting ripped off by pan companies; buy local. Or give alternative gifts for Christmas to protest this greed. Give Christmas gifts that you have made by hand, buy some Salvation Army or charity trinkets for the adults on your list. Move your family tradition of giving gifts to January, like mages. There is a lot you can do to stop price rises and fight inflation.
Happy Holidays and a Prosperous New Year!