Companies like Exxon Mobil, Shell, and Kraft Heinz enjoyed bumper profits as consumers struggled with historic inflation.

In April, Société Générale economist Albert Edwards released a scathing note saying he hadn’t seen anything like the current levels of corporate greed in his four decades working in finance. He said companies were using the war in Ukraine as an excuse to hike prices in search of profits.

“The end of Greedflation must surely come. Otherwise, we may be looking at the end of capitalism,” Edwards wrote. “This is a big issue for policymakers that simply cannot be ignored any longer.”

  • @[email protected]
    17•1 year ago

    Yeah, seriously. The path is so obvious and linear for society today due to that. I feel like it just gets easier to predict the future, from axioms such as “the rich are powerful and will always try to expand their influence and cement their rule”.

    It’s easy to see that climate change will never be solved for as long as something big doesn’t change, wealth inequality will keep rising, it will just keep being more and more expensive to live and own things, working conditions won’t improve or may even worsen, automation will put out more and more people out of a job, creating a massive crisis, poor countries will get worse leading to wars or other crises, and ever more commercialization of everything, such as art and hobbies.

    At least, unless it collapses/a revolution happens.

    • @Daft_ish
      8•1 year ago

      This is all a bit optimistic. The collapse of society will have a measurable human toll and may seal the deal on the chance of a better future. Very optimistic to think the resulting power struggle will result in anyone other than a dictator taking power.

      • Uranium3006
        2•1 year ago

        but that’s all already happening anyways. it’s not a risk to changing things if it is a given in the status quo

        • @Daft_ish
          2•1 year ago

          Happening, hasn’t happened. Op is suggesting we just succumb. If I have to explain why that is a stupid notion I’m not even going to start with you.