No, Elizabeth Warren, greed is not causing inflation

Mises.org’s Daniel Lacalle writes, “Senator Elizabeth Warren recently stated that rising prices were due to corporations increasing their profits. ‘This isn’t about inflation, this is about price gouging for these guys.’ It is simply incorrect.

If evil corporations are to blame for rising prices in 2021, as Elizabeth Warren says, I imagine that they were magnanimous and generous corporations when there was low or no inflation, right? | @dlacalle_IAhttps://t.co/2BqkbgeifQ

— Mises Institute (@mises) December 20, 2021

No, corporations have not doubled their profits, and rising prices are not due to the evildoings of businesses. If evil corporations are to blame for rising prices in 2021, as Elizabeth Warren says, I imagine that they were magnanimous and generous corporations when there was low or no inflation, right?

Inflation is the tax of the poor. It destroys the purchasing power of wages and engulfs the little savings that workers accumulate. The rich can protect themselves by investing in real assets, real estate and financial, the poor cannot.

Inflation is not a coincidence, it is a policy.”

Read the entire column.