Is Greed Causing Shrinkflation?

Andrew Heaton
Andrew Heaton reaches for the camera surrounded by the text shrinkflation and a video screen grab of President Biden next to food packaging.
ReasonTV

President Joe Biden and Sen. Elizabeth Warren (D–Mass.) are blaming corporate America for "shrinkflation," where a company charges the same amount for a product while reducing the product's size or quantity. Recently, Senator Bob Casey (D–Pa.) introduced the Shrinkflation Prevention Act, which declares shrinkflation a deceptive business practice and would forbid companies to engage in it.

Casey, Biden, Warren, and other like-minded politicians maintain that the underlying cause of shrinkflation is "greed." But, as Andrew Heaton explains, greed is pretty much constant across industries and time periods. Shrinkflation is just a passive-aggressive form of inflation, which we are struggling with largely due to government fiscal policy.

Photo credit: captcreate, Flickr; Brett Jordan, Flickr. 




 



  • Andrew Heaton: Host, Writer

  • Austin Bragg: Producer, Editor

  • Meredith Bragg: Producer

  • John Carter: Producer

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