Broadbent Institute:“Challenging Corporate Power to Fix Affordability”

Canadians have paid a heavy price in higher interest costs, unemployment, and a near-recession in order to tame post-pandemic inflation-which is now back to 2% (the Bank of Canada’s target). But one key factor in the rise and fall of inflation after COVID lockdowns was the role of corporate profit-taking. In this video produced by the Broadbent Institute (for its Progressive Political Economy educational series), Centre for Future Work Director Jim Stanford explains how companies took advantage of shortages and disruptions after the pandemic to increase prices far above their costs. The result was record profits alongside higher inflation. Canadians need to study the lesson of this experience, ot prevent it from happening the next time.