Discover and read the best of Twitter Threads about #ProfitPriceSpiral
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Here's our @JimboStanford in @ConversationEDU with more on the role of corporate pricing strategies in leading recent inflation: theconversation.com/underlying-aus…. Amidst social, economic & public health crisis, business has literally never had it better. #ProfitPriceSpiral /2
Claims businesses are mere intermediaries in inflation (simply passing on higher costs to consumers) are disproved by the growth in corporate profits. Corp revenue has grown $160b/yr more than corp costs. Yet RBA still obsesses about wage growth & demands more real wage cuts. /3 
The surge in mining profits (up 89% from Dec19 to Dec22) has led the way. But profits in non-mining sectors have also grown: by 29% in the same period. Non-mining profits have grown as a share of non-mining GDP, and faster than non-mining wages. /4
