1. Rich people don't create jobs, consumers do.
2. Stuffing the pockets of the rich in hopes it will trickle down is like giving 1 dog 10 bones, expecting he'll share them with 9 other dogs.
3. If a company raises prices but their profits remain the same, that's inflation. If a company raises prices and their profits rise, that profiteering.
Wow. Hard to know where to begin.
1. In free market economies, entrepreneurs raise capital to develop products to sell to consumers. How well the entrepreneur matches his product to the needs and desires of the demand of consumers is what determines the success of the company. To remain successful, a company will need to continue to innovate to give the best product and not lose market share to other companies that develop similar products and technologies.
It is the people who create these companies who create jobs. Consumers can clamor for whatever they want, but if entrepreneurs don't risk capital and start businesses, there are no new jobs. As businesses are successful they expand. This creates more jobs.
2. The reason those starting businesses reap the largest part of the profits is because they have taken all the risks. Without such reward, there is no incentive to take risk. Business owners pay employees commensurate with the value they add to a company. The greater the value, the greater the pay. This incentivizes the workforce do develop skills to be more useful.
3. Inflation is the result of an increase in demand without an increase in supply. The pandemic response is a textbook case. The government printed money and put the money in the hands of consumers while, simultaneously, supply line problems led to a decrease in the products. More money chasing fewer goods always drives up prices. So what do workers do? They demand higher wages. The higher wages increases the price of products further. It's called a wage-price spiral.
To lower demand, money has to be taken out of the economy. This is accomplished by raising interest rates. Fewer people will be able to borrow, as well as businesses, and soon people don't have enough money to pay bills. They begin cutting back on purchases and soon jobs are cut.
Everything that happened was not only predictable, but inevitable. This is why sound economic principles are necessary.
You have alot to learn about business, economic principles, and people's behavior. Not sure how you were hurt to make you so jaded towards free economies, put it left alot of bitterness in your heart.
