|
|
|
|
|
by smeagull
778 days ago
|
|
It's not greed that has varied. It was an inflationary shock. Greed explains why it hasn't gone back down once the shocks are gone. It's basically price collusion - nobody wants to be the first to decrease prices, so nobody does. Before the inflation, there wasn't an opportunity to collude in this manner. |
|
The time before inflation? When was that? The middle ages?