|
Greedflation
Greedflation, or sellers' inflation, describes inflation that is driven by increases in corporate profits. The theory suggests that such inflation can arise from mechanisms such as price gouging, price fixing, or windfall gains resulting from information asymmetry, monopoly-like power and external shocks to the economy. The theory first gained traction among among progressive economists but includes some mainstream adherents today, including at the IMF, the European Central Bank, Federal Reserve Bank of Kansas City, and FTC as well as Isabella Weber, and Robert Reich. Some proposed remedies include pursuing anti-trust enforcement, windfall profit taxes, and anti-price gouging measures like price caps. Organizations and notable people who dispute the concept or are less concerned about greedflation include ''The Economist,'' CNN, Federal Reserve Bank of San Francisco, Justin Wolfers, Jason Furman, and Noah Smith. Definitions The term 'Greedflation' was a candidate for word ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Isabella Weber
Isabella M. Weber (born 1987 in Nuremberg, Germany) is a German economist. She is an associate professor of economics at the University of Massachusetts Amherst. Weber became more widely known for having taken a position in favor of a price control policy. Her op-ed published in ''The Guardian'' in December 2021 caused an uproar among economists, some of whom, including Paul Krugman, have since apologized and become open to price caps. Weber's thoughts around focusing more on what she calls "sellers' inflation" (instead of focusing on increased demand) have become more popular and mainstream by 2023, especially in Europe. In additional to price caps and strict anti-price gouging legislation to combat inflation, she also supports windfall profit taxes. Life In 2017, Weber obtained a PhD in Development studies, Development Studies from the University of Cambridge. Her thesis was titled ''China's Escape from the 'Big-Bang': The 1980s Price Reform Debate in Historical Perspective'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Noah Smith (writer)
Noah Smith is an American blogger, journalist, and commentator on economics and current events. A former assistant professor of Behavioral Finance at Stony Brook University, Smith writes for his own Substack blog, ''Noahpinion'', and has also written for publications including '' Bloomberg'', '' Quartz'', Associated Press, ''Business Insider'', and '' The Atlantic.'' Smith left Bloomberg in 2021 to fully focus on his own blog. Graduate school Smith graduated from Stanford University in 2003 with a Bachelor of Science in physics. He then began studying economics with the intention of eventually becoming an economic commentator and pundit. Smith started blogging in graduate school, on Google's Blogger platform, inspired by his original goal, as well as feeling disaffected with studying macroeconomics. He attributes the blog's early success to established pundits and economists such as J. Bradford DeLong, Mark Thoma and Paul Krugman reading and referencing it. During this ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Guardian
''The Guardian'' is a British daily newspaper A newspaper is a periodical publication containing written information about current events and is often typed in black ink with a white or gray background. Newspapers can cover a wide variety of fields such as politics, business, sport .... It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust Limited, Scott Trust. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CBS News
CBS News is the news division of the American television and radio service CBS. CBS News television programs include the '' CBS Evening News'', '' CBS Mornings'', news magazine programs ''CBS News Sunday Morning'', ''60 Minutes'', and '' 48 Hours'', and Sunday morning political affairs program '' Face the Nation''. CBS News Radio produces hourly newscasts for hundreds of radio stations, and also oversees CBS News podcasts like '' The Takeout Podcast''. CBS News also operates a 24-hour digital news network. Up until April 2021, the president and senior executive producer of CBS News was Susan Zirinsky, who assumed the role on March 1, 2019. Zirinsky, the first female president of the network's news division, was announced as the choice to replace David Rhodes on January 6, 2019. The announcement came amid news that Rhodes would step down as president of CBS News "amid falling ratings and the fallout from revelations from an investigation into sexual misconduct allegation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Meat Industry
The meat industry are the people and companies engaged in modern industrialized livestock agriculture for the production, packing, preservation and marketing of meat (in contrast to dairy products, wool, etc.). In economics, the meat industry is a fusion of primary (agriculture) and secondary (industry) activity and hard to characterize strictly in terms of either one alone. The greater part of the meat industry is the meat packing industry – the segment that handles the slaughtering, processing, packaging, and distribution of animals such as poultry, cattle, pigs, sheep and other livestock. A great portion of the ever-growing meat branch in the food industry involves intensive animal farming in which livestock are kept almost entirely indoors or in restricted outdoor settings like pens. Many aspects of the raising of animals for meat have become industrialized, even many practices more associated with smaller family farms, e.g. gourmet foods such as foie gras. The product ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woolworths Supermarkets
Woolworths Supermarkets (colloquially known in Australia as "Woolies") is an Australian chain of supermarkets and grocery stores owned by Woolworths Group. Founded in 1924, Woolworths today is Australia's biggest supermarket chain with a market share of 33% as of 2019. Woolworths specialises in groceries (vegetables, fruit, meat, packaged foods, etc.), but also sells magazines, DVDs, health and beauty products, household products, pet and baby supplies, and stationery. As of the end of June 2020, there were 987 Woolworths supermarkets and 64 Woolworths Metro convenience stores. Woolworths Online (formerly HomeShop) is a "click and collect" and home delivery service for Woolworths supermarkets. In 2014, Woolworths' slogan became "The Fresh Food People". History Woolworths Limited (now Woolworths Group) was founded on 22 September 1924 by five Australian entrepreneursPercy Christmas, Stanley Chatterton, Cecil Scott Waine, George Creed and Ernest Williams. The first store wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coles Supermarkets
Coles Supermarkets Australia Pty Ltd, trading as Coles, is an Australian supermarket, retail and consumer services chain, headquartered in Melbourne as part of the Coles Group. Founded in 1914 in Collingwood by George Coles, Coles operates 807 supermarkets throughout Australia, including several now re-branded Bi-Lo Supermarkets. Coles has over 100,000 employees and accounts for around 27 per cent of the Australian market. Coles' large head office site in Melbourne's inner south-east has 4,000 employees of the workforce located inside. Coles Online is the company's online shopping ('click & collect' and home delivery) service. Between 1986 and 2006, Coles Supermarkets was a brand of Coles Myer Limited, later Coles Group Limited, prior to Wesfarmers purchasing Coles Group in 2007. It became a subsidiary of Coles Group again after Wesfarmers spun-off the business in November 2018. In 2020, Coles changed its slogan to "Value the Australian way". History George Jam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cartel
A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes price fixing, bid rigging, and reductions in output. The doctrine in economics that analyzes cartels is cartel theory. Cartels are distinguished from other forms of collusion or anti-competitive organization such as corporate mergers. Etymology The word ''cartel'' comes from the Italian word '' cartello'', which means a "leaf of paper" or "placard", and is itself derived from the Latin ''charta'' meaning "card". The Italian word became ''cartel'' in Middle French, which was borrowed into English. In English, the word was originally used for a written agreement between warring nations to regulate the treatment and exchange ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Power
In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In other words, market power occurs if a firm does not face a perfectly elastic demand curve and can set its price (P) above marginal cost (MC) without losing revenue.Syverson, C. (2019). Macroeconomics and Market Power. The Journal of Economic Perspectives, 33(3), 23-43. https://doi.org/10.1257/jep.33.3.23 This indicates that the magnitude of market power is associated with the gap between P and MC at a firm's profit maximising level of output. Such propensities contradict perfectly competitive markets, where market participants have no market power, P = MC and firms earn zero economic profit. Market participants in perfectly competitive markets are consequently referred to as 'price takers', whereas market participants that exhibit market power are referred to as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2024 United States Elections
The 2024 United States elections are scheduled to be held, in large part, on Tuesday, November 5, 2024. During this presidential election year, the president of the United States and vice president will be elected. In addition, all 435 seats in the United States House of Representatives and 34 of the 100 seats in the United States Senate will be contested to determine the membership of the 119th United States Congress. Thirteen state and territorial governorships and numerous other state and local elections will also be contested. Federal elections Presidential election The 2024 United States presidential election will be the 60th quadrennial U.S. presidential election. This will be the first presidential election under the electoral vote distribution determined by the 2020 census. Presidential electors who will elect the President and Vice President of the United States will be chosen; a simple majority (270) of the 538 electoral votes are required to win the election. Pres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (United States)
The Democratic Party is one of the two major contemporary political parties in the United States. Founded in 1828, it was predominantly built by Martin Van Buren, who assembled a wide cadre of politicians in every state behind war hero Andrew Jackson, making it the world's oldest active political party.M. Philip Lucas, "Martin Van Buren as Party Leader and at Andrew Jackson's Right Hand." in ''A Companion to the Antebellum Presidents 1837–1861'' (2014): 107–129."The Democratic Party, founded in 1828, is the world's oldest political party" states Its main political rival has been the Republican Party since the 1850s. The party is a big tent, and though it is often described as liberal, it is less ideologically uniform than the Republican Party (with major individuals within it frequently holding widely different political views) due to the broader list of unique voting blocs that compose it. The historical predecessor of the Democratic Party is considered to be th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.svg "Click for more on -> CBS News"){kind=logo}
