In the second half of 2023. Corporate profits gained because of the rise of inflation to the tune of 53%! Inflation has been slowly rising for the last 40 years but the COVID pandemic took it to new levels.
The pandemic caused a lowering of the rate of profit because of supply chain shortages as well as workers’ refusal to return to work and receive paltry wages. Corporations are now trying to make up for lost profits by charging more money for its goods and services.
Read Ramin Mazaheri on Substack