Rakeen Mabud on Greedflation, Rachel K. Jones on Mifepristone

This week on CounterSpin:  In the final quarter of 2023, after-tax corporate profits reached an all-time high of $2.8 trillion. As reported by Popular Information, corporate profit margins were at a level not seen since the 1950s, as increases in prices have outpaced increases in costs—which Capitalism 101 says shouldn’t happen, because competing companies are supposed to step in with lower prices and grab some market share, right? What’s different now? Well, abject greed, abetted by policy and whistled past by the press corps. As one economist put it, “If people are paying $3 for a dozen eggs last week, they’ll pay $3 this week. And firms take advantage of that.” One reason we have details on “greedflation” is the work of the Groundwork Collaborative. We spoke with their economist and managing director of policy and research, Rakeen Mabud, a few months back. We hear some of that conversation again this week.

Plus Janine Jackson takes a quick look at NBC’s unhiring of Ronna McDaniel.

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