The RBA, politicised conmen with a gun to the head of the Australian economy

[Demonic Ascent]

the profit driver means the incentive is there for price gouging

coles and woolworths have been doing this for years and slowly getting worse and worse and its just been ignored

Is "price gouging" actually against the law? Isn't it just an inherent part of the capitalist system, supply/demand economics? I'm no fan of the companies that do this but they are only doing what they are built to do, they are playing by the rules of the game - if there's an issue then the rules must change, not just have the rule makers wag the finger at them for being naughty.

 

[Demonic Ascent]

Both sides need to accept that inflation has been caused by profiteering and corporate greed, and act accordingly.

To be honest, immigration needs to increase, not decrease. Means grandma might not starve to death in the nursing home.

The problem is that is anathema to them because it would be an acknowledgment that the entire system is built wrong. The economic orthodoxies of the last several decades have got us in a massive hole, who will be brave enough to realise it is the system which is broken and needs to be completely rebuilt?

 

[Puddy]

The problem is that is anathema to them because it would be an acknowledgment that the entire system is built wrong. The economic orthodoxies of the last several decades have got us in a massive hole, who will be brave enough to realise it is the system which is broken and needs to be completely rebuilt?

Doesn't need to be rebuilt.

We play the government alot of money, it's their job to make sure the corporates don't engage in the behaviour that they have been

 

[Number37]

Is "price gouging" actually against the law? Isn't it just an inherent part of the capitalist system, supply/demand economics? I'm no fan of the companies that do this but they are only doing what they are built to do, they are playing by the rules of the game - if there's an issue then the rules must change, not just have the rule makers wag the finger at them for being naughty.

Price gouging is NOT illegal.

Selling a product below cost is illegal if it is done to manipulate a market. Go figure.

 

[Gralin]

Is "price gouging" actually against the law? Isn't it just an inherent part of the capitalist system, supply/demand economics? I'm no fan of the companies that do this but they are only doing what they are built to do, they are playing by the rules of the game - if there's an issue then the rules must change, not just have the rule makers wag the finger at them for being naughty.

Thanks for highlighting why I think capitalism sucks

Regulation needs to exist to limit it, but lets not pretend that Coles and Woolworths haven't broken laws repeatedly while chasing their massive profits

wage theft, bankrupting suppliers, all sorts of lovely actions
they should not exist as companies, they should be broken up

won't happen of course but I can dream

 

[Demonic Ascent]

Doesn't need to be rebuilt.

We play the government alot of money, it's their job to make sure the corporates don't engage in the behaviour that they have been

Profiteering and corporate greed may be unethical but it is not illegal. That's the problem.