who will also continue to make profit on the labor the lower class does to afford anything above basic necessities
If someone can afford basic necessities, they aren’t going to choose to work three jobs at minimum wage where they are treated badly, forcing an improvement in pay/conditions to find any workers. As for setting prices arbitrarily, that isn’t actually possible except where a monopoly is held, the idea that supply and demand influences price is not a myth. Having money and the choice of how to spend it does actually give you additional agency and leverage, and UBI would serve as a form of redistribution if it is funded by taxes of some kind.
Except that landlords are coming together to set prices so that they can all set them high. I don’t remember what the group is called, but someone was discussing it a while back. Doesn’t have to be a monopoly if they’re conspiring, which is what is happening with so many consumer goods and services.
Cartel is the word you are probably looking for. Cartels are when an association of different suppliers collude to restrict competition and keep prices high.
it’s only really a cartel if they get together and make these plans, in reality none of these landlords are stupid, they will just adjust their demands to the upper region of what people feel acceptable, this slowly moves the “acceptability window” up, all without anyone needing to conspire with anyone else
I’ve seen that stuff but it’s too much to assume that this kind of coordination is the controlling factor in housing prices, or most other prices. You do need a monopoly because there’s too much incentive for defecting from the conspiracy if the fixed price is too far away from what the market price would be. I think housing is expensive mainly because of supply being suppressed and wealth inequality, and UBI would begin to address the latter.
the use of this software prevented landlords from courting would-be renters through the use of different discounts, said the lawsuit. For instance, landlords sometimes offer move-in deals or compete on prices but the use of Yardi’s algorithmic pricing tool disrupted that practice, claimed the attorneys …
Overall, the rate of rent growth has fallen back toward historical norms after nearly two years of historically high growth.
Like I mentioned in another comment, I can see how this kind of thing could make some difference in pricing by avoiding giving renters deals that wouldn’t have actually been necessary to secure a lease. That’s very far from being evidence that supply and demand doesn’t even apply and the market price is dictated by fiat, which is an absurd conspiracy theory that doesn’t follow at all from any of the articles being linked.
How do you explain cereal being $8 a box, when it was $5 pre-COVID or the million other products that now cost more? There are recordings of board meetings that were leaked of board members admitting that they inflated prices or unnecessarily kept prices inflated because they knew people would pay it.
Why could that not have an explanation that is primarily about economic forces? They printed a ton of money around when Covid happened, and the distribution of wealth shifted significantly. I can buy that businesses could be eking out a little more efficiency by coordinating, but not that we are in a secret command economy and economics is basically all fake.
How do you figure you can increase the number of dollars in circulation, while shrinking the economy, and not have each dollar be worth less wealth as a result?
because the value of money isn’t tied to the amount in existence, never has, even the rare metal backed gang is just extrapolating the value axiom by one
Not so simple honestly it would also be funded by a reduction in bureaucracy, and spending on poverty alleviation. I’m in NY there are 50 something counties here each with their own DSS office. Think of the reductions in demand for some of these dumb programs that essentially kick the worker while their down.
If someone can afford basic necessities, they aren’t going to choose to work three jobs at minimum wage where they are treated badly, forcing an improvement in pay/conditions to find any workers. As for setting prices arbitrarily, that isn’t actually possible except where a monopoly is held, the idea that supply and demand influences price is not a myth. Having money and the choice of how to spend it does actually give you additional agency and leverage, and UBI would serve as a form of redistribution if it is funded by taxes of some kind.
Except that landlords are coming together to set prices so that they can all set them high. I don’t remember what the group is called, but someone was discussing it a while back. Doesn’t have to be a monopoly if they’re conspiring, which is what is happening with so many consumer goods and services.
Cartel is the word you are probably looking for. Cartels are when an association of different suppliers collude to restrict competition and keep prices high.
it’s only really a cartel if they get together and make these plans, in reality none of these landlords are stupid, they will just adjust their demands to the upper region of what people feel acceptable, this slowly moves the “acceptability window” up, all without anyone needing to conspire with anyone else
I’ve seen that stuff but it’s too much to assume that this kind of coordination is the controlling factor in housing prices, or most other prices. You do need a monopoly because there’s too much incentive for defecting from the conspiracy if the fixed price is too far away from what the market price would be. I think housing is expensive mainly because of supply being suppressed and wealth inequality, and UBI would begin to address the latter.
https://www.wsj.com/real-estate/commercial/thanks-to-big-data-landlords-know-how-to-squeeze-the-most-out-of-renters-eb7e5f02
https://www.housingwire.com/articles/yardis-rent-setting-software-illegally-drove-rent-prices-up-for-millions-of-renters-lawsuit/
Like I mentioned in another comment, I can see how this kind of thing could make some difference in pricing by avoiding giving renters deals that wouldn’t have actually been necessary to secure a lease. That’s very far from being evidence that supply and demand doesn’t even apply and the market price is dictated by fiat, which is an absurd conspiracy theory that doesn’t follow at all from any of the articles being linked.
How do you explain cereal being $8 a box, when it was $5 pre-COVID or the million other products that now cost more? There are recordings of board meetings that were leaked of board members admitting that they inflated prices or unnecessarily kept prices inflated because they knew people would pay it.
Why could that not have an explanation that is primarily about economic forces? They printed a ton of money around when Covid happened, and the distribution of wealth shifted significantly. I can buy that businesses could be eking out a little more efficiency by coordinating, but not that we are in a secret command economy and economics is basically all fake.
the “printing of money” has fuck all to do with inflation, and mainly comes from pop-economics that is stuck somewhere around mercantilism.
Corporation simply realized that they are playing the prisoner’s dilemma with prices, and are now going for the “optimal solution”
How do you figure you can increase the number of dollars in circulation, while shrinking the economy, and not have each dollar be worth less wealth as a result?
because the value of money isn’t tied to the amount in existence, never has, even the rare metal backed gang is just extrapolating the value axiom by one
I’ve got one for you chicken:
https://www.reed.senate.gov/news/releases/reed-industrial-egg-producers-price-hikes-are-suspiciously-high-and-federal-government-should-help-rein-in-unfair-market-practices
Not so simple honestly it would also be funded by a reduction in bureaucracy, and spending on poverty alleviation. I’m in NY there are 50 something counties here each with their own DSS office. Think of the reductions in demand for some of these dumb programs that essentially kick the worker while their down.