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Albanese doesn't understand capitalism, page-4

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AmbrosePethick

20,062 Posts.

10/01/24

09:49

Post #: 71805070
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Originally posted by bacci: ↑

An inquiry into supermarkets, again and again and again.
Talk of "price gouging", what's that?

It is the job of Coles and Woolies executives to act in the best interest of their companies (Corps Act S181). It isn't their duty to act in the best interests of customers or suppliers. They should be maximising the return of their shareholders.

In a market economy a seller will maximise his return restrained only by price elasticity and competition.

The yield on Coles and woolies shares isn't outstanding.

Perhaps the government should lower its fuel excise instead.

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His lack of "understanding" is not limited to capitalism.
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