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Why does the value of things in dollars not make sense? (lemm.ee)

submitted 1 year ago by [email protected] to c/[email protected]

67 comments fedilink hide all child comments

This is difficult to explain. I can't figure out a rule of thumb for spending, the prices of things fluctuate so quickly it's confusing. Here are some examples

A house, prices are out of control, inventory is low, sellers are greedy. I'm feeling not only unable to afford it but finding lack of value in inflated prices
Computer parts. Relatively cheap compared to pandemic but more expensive than before but also much cheaper than 90s/00s, but still could be cheaper
TWS earbuds, completely different ball game from regular earbuds, disposable electronics.
Food. Nights out with drinks now sometimes cost me more than 2 & 3, but seem like just keeping up with inflation

The prices range from 100,000s to 100s, but some are fleeting, some semi permanent, some last a long time. I also spend hours researching prices of parts and waiting for sales, but spending the same amount on social events in an instant

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[–] [email protected] 42 points 1 year ago (2 children)

I think we're seeing large scale price gouging.

https://www.npr.org/2023/03/03/1160849446/why-price-gouging-can-seem-obvious-to-consumers-but-hard-for-economists-to-ident

[–] TheBeege 32 points 1 year ago (2 children)

Their arguments assume businesses operate in good faith. We fundamentally know that it's not true, from overseas child labor by fast fashion to coal mining to IT security. This economist of theirs can fuck off

[–] [email protected] 5 points 1 year ago

The bigger the business, the more likely they make their money unethically.

[–] KepBen 2 points 1 year ago

Economists work for the economy, which works for shareholders.

[–] [email protected] 9 points 1 year ago

Yeah, definitely business taking advantage of COVID era shortages that caused prices to spike, and continuing to carry those prices despite not having the same shortages anymore.