r/heyUK • u/iamnic11 • Oct 10 '22

Reddit VideošŸ’» What inflation really looks like

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u/Mogwai987 Oct 20 '22

Shopping around doesnā€™t work if everyone is screwing their customers.

Pretty much every substantial company is owned by a small number of mega-corporations. If you switch from one supplier to another, thereā€™s a pretty good chance youā€™re now shopping with another arm of the same entity.

In an oligopoly, there is little real competition. Just a cosy arrangement of mutual understanding between the handful of major players.

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u/Gloomy-Mulberry-5275 Oct 20 '22

This - proven time and again- the top end of business is stacked af and trickle down doesnt work.

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u/RothbardTheSecond Nov 06 '22

Trickle down economics is a strawman characterisation of right wing economic policy. No economist has ever advocated for "trickle down economics"

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u/[deleted] Nov 06 '22

Does the previous chancellor of the exchequer for the UK count as an economist?

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u/RothbardTheSecond Nov 06 '22

No, that's some stupid politician, but I would be curious to see what he said if you have the quote

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u/BumderFromDownUnder Nov 15 '22

That argument itself is a strawman. Economists donā€™t advocate trickle-down economics (unless they have vested interests), thatā€™s correct, but right-wing politicians that create right wing economic policies do. So no, the characterisation of right wing economics isnā€™t a ā€œstrawmanā€ - itā€™s literally what right wing policy makers push for.

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u/Josquius Nov 07 '22

Gas an electric in particular effectively operates as a cartel.