How Outsized Corporate Profits Raised Prices (with Lindsay Owens)

This week, Nick and Goldy are joined by Lindsay Owens, Executive Director of the Groundwork Collaborative, to discuss Groundwork’s recent reports on corporate profiteering and price gouging during and after the pandemic. Owens attributes the record increases in corporate profits in the last few years to growing corporate concentration and lack of competition. She argues that these two factors gave companies an unprecedented level of market power, and therefore pricing power, which allowed them to exploit the supply chain crisis caused by COVID to drastically raise prices. Owens stresses the need for policy interventions to promote competition, transparency, and fair pricing in the market to ensure a more competitive and consumer-friendly economy. Lindsay Owens is the Executive Director of the Groundwork Collaborative, known for her expertise in economic policymaking and her work on exposing corporate profiteering in price increases. She leads the organization's mission to create a more equitable economy, providing media commentary and advising policymakers such as Senator Elizabeth Warren, Minnesota Attorney General Keith Ellison, and Congressional Progressive Caucus Chair Pramila Jayapal. Twitter: @owenslindsay1 Further reading: New Groundwork Report Finds Corporate Profits Driving More Than Half of Inflation Inflation Revelation: How Outsized Corporate Profits Drive Rising Costs Big Profits in Small Packages Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer