What is an average person living in the US supposed to do about corporations raising prices?
What is an average person living in the US supposed to do about corporations raising prices?
They keep raising prices, stating that it's due to inflation, but then they keep having record profits.
Meanwhile, the average American can barely afford rent or food nowadays.
What are we to do? Vote? I have been but that doesn't seem to do much since I'm just voting for a representative that makes the actual decisions.
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Inflation means money is worth less than before and inflation is actually money creation. Higher supply means lower demand. Record profits are only records because the nominal value is higher, but the real value isn't.
Companies operate on gross margin, so 30% margin is always 30% of the total price. The actual value is irrelevant.
You're not wrong that it's the profit margin that tells the story, and you can't tell just from the nominal amount alone.
But average profit margins in the United States have reached a record high percentile not seen since the 1950's. So it's not just the dollar amount that's gone up for corporations, it's the margin percent that's gone up too.
The actual value of groceries seems quite relevant...
The value is the same. Join a union.
Of course, if you're not getting an actual pay rise. Then you strike until you get a better deal or start making money without exchanging it for units of time.