this post was submitted on 02 Nov 2023
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Nothing lacking at all. It’s business intelligence. Greedflation. A corporation has a fiduciary obligation to its shareholders to maximise profits by whatever means they can. It’s capitalism pure and simple. You can rest assured that people who get paid lots of money did complex forecasts to predict what the ramifications would be. In the end they decided it was worth it. And for them it probably is.
Adding this to my Internet vocabulary.
Its pretty annoying, this double whammy of shrinkflation+greedflation. Getting old real fast
Grinkflaception
Err, I agree with the greed part. But the obligation to maximise profits is not true. A quick web search will bring up, e.g. https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits and many other sources. Companies can do whatever they like, as long as it's within the law. The fact that most choose to maximise profits at the cost of other things is entirely on them.
I know what you’re saying but the world has moved on. Companies and regulators are talking about fair value as governments adopt ESG laws.
Companies that take an old fashioned “as much as we can get away with” approach are finding their customers drifting away. Nowadays if companies want to put up prices and be successful then they have to make the product (whatever it is) seem more valuable.