So we’re supposed to believe that the highest corporate profits in more than 70 years are not a primary driver of inflation? I don’t buy it and neither do all economists.
It is unlikely that either the extent of corporate greed or even the power of corporations generally has increased during the past two years. Instead, the already-excessive power of corporations has been channeled into raising prices rather than the more traditional form it has taken in recent decades: suppressing wages.
Corporations have such excessive power that they can even push the narrative that their historic profits don’t have anything to do with inflation. Some people actually believe the propaganda.