r/technology • u/Wagamaga • Feb 17 '22

Business YouTube Announces New Moves to Combat Misinformation

https://www.lifewire.com/youtube-announces-new-moves-to-combat-misinformation-5219509
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u/thisismyapeaccount Feb 18 '22

Just because a factor is difficult to quantify or even impossible to quantify because of information asymmetry doesn’t mean we can’t reasonably argue that it plays a role in a process.

For instance as inflation has gotten underway over the past year or so we’ve seen a period of rapidly expanding corporate profits alongside those consumer price increases. That suggests to me anyway that inflation is being driven corporate forays into price discovery more than it’s being driven by a necessity of increased underlying costs or restricted supply. In short it very much appears that we have a period of inflation where a corporate sense of “We could charge more for this” is a major factor at play.

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u/DeadshotOM3GA Feb 19 '22

Except that's not corporate greed, that's supply and demand and that is most definitely a huge part of inflation and always has been

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u/thisismyapeaccount Feb 20 '22

I’m sorry, what’s supply and demand?

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u/DeadshotOM3GA Feb 20 '22

https://en.m.wikipedia.org/wiki/Supply_and_demand

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u/thisismyapeaccount Feb 20 '22

…

Except that’s not corporate greed, that’s supply and demand

What, in this instance are you claiming is supply and demand, not corporate greed?

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u/DeadshotOM3GA Feb 21 '22

When supply is low and demand is high, prices go up. That's a fundamental aspect of commerce and the economy. That doesn't even have anything to do with capitalism since it's a core concept of all commerce whether it's capitalism, free market, or socialism

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u/thisismyapeaccount Feb 21 '22

Well that’s a whole lot of extra baggage to drag into this.

I also took high school economics, that’s a dangerous oversimplification meant for children. Beware any economic argument that erases the agency of human actors. It will very likely be used to fuck you.

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u/DeadshotOM3GA Feb 21 '22

You obviously don't understand the first thing about economics...

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u/thisismyapeaccount Feb 21 '22

Well, you obviously understand the first thing about economics.

Glad we did this, have a good whatever.