Brett Wilkins is a staff writer for Common Dreams.
Progressive policy experts took aim at corporate greed and profiteering during a Thursday U.S. Senate hearing on 'shrinkflation,' the process of reducing the size or quantity of a product while selling it at the same price.
Americans understand that corporate greed is a major driver of costs that make it difficult for their families to make ends meet. Corporate profits have exploded since 2020, and a recent study by our partners at the Groundwork Collaborative found that for much of 2023, corporate profits drove 53% of inflation. Comparatively, over the 40 years before the pandemic, profits drove just 11% of price growth. In the final three months of 2023, corporate profits reached an all-time high of $2.
Federal Trade Commission Groundwork Collaborative Senate Banking Committee Sherrod Brown Shrinkflation Shrinkflation Prevention Act U.S. Senate Corporate Greed
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