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Paola Bassanese's avatar

Thank you for highlighting this issue within the cost of living crisis. Just today I noticed that even supermarkets' own brand cereal has become expensive (too many people are profiting in the food business).

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Jack Luft's avatar

The profiteering by corporations during Covid is a direct and almost inevitable consequence of the corporate structure that dominates business today. The workers are pressed by managers who are answerable to their executives who answer to their board of directors who are answerable to stock holders. Of course once you get to the stockholders the only thing that matters is profits that drive stock prices and dividends. By then the consideration is so far removed from the customer's welfare that is is barely considered if at all. Aiding this detachment is the appetite of corporate leaders to buy out, dismantle, acquire and absorb competitors that reduces price competition. Blackrock is one of the most aggressive in this practice. Big oil strung together its most profitable quarters between 2020 and 2023 with price gouging passed off as rising expenses due to Covid related supply chain and operating infation costs. Make America Great Again like the 1890's when Rockefeller, Carnegie, Fisk, Mellon, J.P. Morgan paid no taxes while children worked in textile mills.

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