Isabella Weber Has Neoliberal Economists Running Scared

Professor Isabella Weber's theory of seller's inflation, which argues that firms are passing on cost increases to consumers and benefiting from higher profits, has provoked controversy among economists and attracted attention from major media outlets. Weber's analysis challenges traditional economic theories on inflation and highlights the role of profits in driving price increases, potentially shifting the focus of policy measures towards addressing the power dynamics of capital in the market.

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Relevant topic timeline:

8/20/2023

We won’t fix inflation while economists stay in denial about its causes

The article criticizes economists and their understanding of inflation, arguing that their focus on controlling wages and putting workers out of jobs to curb inflation is flawed, and that the real issue lies in the lack of competition and the pricing power of big businesses.

8/27/2023

Economists, and Their Comical Search For a Higher ‘Inflation Target’

Economist Jason Furman's belief that higher inflation stimulates investment is mocked by the reality of market dynamics, as evidenced by the fact that successful companies achieve massive valuations by lowering prices and providing more value to consumers.

9/9/2023

Middlemen Stocks Soar on Inflation, But Face Risks if Prices and Growth Slow Down

The article discusses how the rate of inflation has impacted processors, distributors, and other middlemen, with some benefiting from price increases but now at risk of a slowdown.

9/19/2023

How Consumer Sentiment Impacts Inflation Expectations and Actual Prices

"Inflation expectations can influence actual inflation, as people's behavior and attitudes towards the economy play a role in price changes," according to Joanne Hsu, director of the Surveys of Consumers at the University of Michigan.

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Posted 8/31/2023, 3:36:31 PM