I see the “inflation is caused by greed” fallacy repeated over and over on social media and in blogs (even in Leonard Steinberg’s excellent Compass blog), so I want to address it briefly. When markets are even remotely competitive, businesses can’t overcharge to be greedy because customers will simply move to competitors. The mortgage industry is a great example – along with almost every other retail sector. If Home Depot, for example, charges too much for chainsaws, lumber, and hammers, customers will start going to Lowe's.
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