Pitchfork Economics with Nick Hanauer Did corporate greed break the supply chain? (with Rakeen Mabud)
While many Americans struggle to make ends meet, corporate America’s 2021 profits were higher than ever. So why are corporations making more money while supply chain issues are still driving up inflation for the rest of us? The Groundwork Collaborative’s Chief Economist, Rakeen Mabud, wants you to know that the supply chain is working exactly as it was designed: for maximum profit, rather than reliably getting goods to people. And that’s the problem.
Rakeen Mabud is the Chief Economist and Managing Director of Policy and Research at the Groundwork Collaborative.
Twitter: @rakeen_mabud
How We Broke the Supply Chain https://prospect.org/economy/how-we-broke-the-supply-chain-intro/
Corporations Raise Prices as Consumers Spend ‘With a Vengeance’
https://www.nytimes.com/2022/02/27/business/economy/price-increases-inflation.html
Opinion: Larry Summers Shares the Blame for Inflation https://www.nytimes.com/2022/02/28/opinion/larry-summers-inflation.html
Inflation causing financial strain for nearly half of U.S. households, poll finds
https://www.washingtonpost.com/business/2021/12/02/inflation-gallup-financial-hardship/
Stock Buybacks Beat Capital Spending for Many Big Companies
https://www.wsj.com/articles/stock-buybacks-beat-capital-spending-for-many-big-companies-11631611802
The stock market is punishing Walmart and Target for keeping costs low while the rest of the corporate sector prioritizes profits and makes inflation worse
Website: http://pitchforkeconomics.com/
Twitter: @PitchforkEcon
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Nick’s twitter: @NickHanauer