Episode 278: Consumers' Hidden Profit
June 26, 2022
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0:47Debunking Inflation Myths #5: Inflation numbers exclude food & energy costs
27:57Now PlayingEpisode 278: Consumers' Hidden Profit
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as posted by the channelWe all see the profits companies make when they sell things for more than it cost them to produce. Companies carefully measure these profits, and many are required to publicly report them to the penny. What we don’t see, but is every bit as real, is the “profit” consumers make when they buy from those companies. A consumer’s “profit” occurs when the consumer pays less for a thing than the maximum the consumer was willing to pay. The fact that we readily see companies’ profits and don’t readily see consumers’ profits contributes to many people’s misunderstandings about economics.
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