Pitchfork Economics with Nick Hanauer Greedflation 2.0: How Tariffs Could Become an Excuse for Corporate Price Gouging (with Hal Singer)
May 13, 2025
Hal Singer, an economist and antitrust expert, delves into the phenomenon of greedflation and its potential resurgence with proposed tariffs. He reveals how corporations exploit supply chain issues to unjustly inflate prices, impacting consumer trust. Singer argues that traditional economic measures aren't enough to curb this behavior and emphasizes the urgent need for effective antitrust policies. By understanding the mechanics behind corporate pricing strategies, he warns of the political consequences if unchecked greed continues to shape the economy.
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Economic Narratives Biased by Funding
- Mainstream economists initially blamed wages for inflation but later shifted to demand stories to avoid blaming corporate price hikes.
- Corporate funding may bias economic narratives away from implicating corporate behavior.
Implement Strong Federal Price Gouging Laws
- Enforce federal price gouging laws to prevent raising prices beyond cost increases during crises.
- Require companies to justify price hikes on a cost basis or face penalties.
Use Bully Pulpit Against Price Hikes
- Use the bully pulpit aggressively to publicly call out unjustified corporate price hikes.
- Historical examples show public shaming can cause companies to roll back excessive prices.
