Understanding "Greedflation"

In late 2021, Isabella Weber, an economist at University of Massachusetts, Amherst published a paper with a new idea. The theory, what she called "seller's inflation," sought to address the confounding fact that the economy was seeing rising high prices and skyrocketing corporate profits. The idea quickly moved from the halls of academia to the political arena. And quicker still, it was dismissed—at one point called a "conspiracy theory." But now, in 2023, "greedflation" is popping up across headlines. This week, OTM correspondent Micah Loewinger sits down with Lydia DePillis, a reporter on the business desk at The New York Times, to talk about her 2022 article dissecting the arguments for and against greedflation’s impact on the economy, and everything that's happened since.  On the Media is supported by listeners like you. Support OTM by donating today (https://pledge.wnyc.org/support/otm). Follow our show on Instagram, Bluesky, TikTok and Facebook @onthemedia, and share your thoughts with us by emailing [email protected]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.