'This economy-wide milking of consumers by tightly consolidated industries is the unbridled force propelling today's surging price hikes.'
The problem with our so-called"free market" is that it's not free for you and me. It's largely controlled by monopolies, which are free to inflate prices just because they can, without worrying that consumers will be able to flee to cheaper sellers. In turn, this market punch lets the noncompetitive gougers gleefully extract unwarranted monopoly profits. It's a phenomenon that corporatists euphemistically label"pricing power.
This economy-wide milking of consumers by tightly consolidated industries is the unbridled force propelling today's surging price hikes. Brand-name corporations claim they are being forced to mark up price tags just to cover rising costs for raw materials, labor, transportation, etc. But in a competitive marketplace, they'd have to eat much of those increases by taking a bit less in profits.
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