Many commentators like to pontificate about the profits made by big energy companies. But this grandstanding reveals a feeble grasp of basic economics and numbers, and is ultimately counterproductive. In case you missed it, some big companies selling products which are now in short supply have seen their profits rise because of higher prices. This … Continue reading Politicians should work with BP and Shell, not demonise them
Tag: profiteering
Can ‘profiteering’ ever be justified?
Given that even ‘profit’ now seems to be dirty word, it is no surprise that being accused of ‘profiteering’ during a crisis is about as bad as it can get. But there are some circumstances when an increase in prices in response to exceptional demand can actually be a good thing. By definition, ‘profiteering’ is … Continue reading Can ‘profiteering’ ever be justified?
Plain-speaking Economics 