Inflation isn’t just price gouging, though we seem to be in a spate of it lately.
I mean there are other factors, but at the end of the day prices and wages are set by capitalists. So, it is ultimately a conscious choice of business owners to raise prices. Wolff does a pretty good job summing it up in my opinion https://www.youtube.com/watch?v=Cl1MXJZ6yOY
He starts by saying that's the first thing to consider and then instead of going on to other points just starts using his spooky scary voice to say it over again. I find that presentation style hard to trust
So no actual critique of the points being made, just oooh spooky style!
My critique is he makes one assertion and backs it up with style instead of actually developing or analyzing it. He takes a single basic observation and uses it an a blunt instrument. Sellers set prices. Brilliant observation. Don't bother looking into why, just feel upset about it.
It's like he sees an apple fall from a tree to the ground and declares "That tree threw an apple at the ground, trees hate the ground!" Ignoring outside forces completely.
He's not wrong on individual points, but the whole thing is incredibly myopic.
Watching the graphs of inflation and corporate profits rise in unison would make one wonder.
I dunno I think there's probably been one or two "honest" inflations where a vendor has seen her costs increase and has only raised her prices just enough to cover those increases.
But yeah, I bet the majority of inflation has been rooted in avarice by shareholders and owners.