I have been observing the way ‘social media’ reacts to inflation and price shocks. I put social media in quotes because there is real social media and there is propaganda. Real social media is when you or I post something on Facebook such as “Wow, egg prices are so high!” or funny memes about chickens and people who own their own chickens.
Propaganda social media, on the other hand, is created by rooms full of paid operatives. They post things like “Evil capitalist companies profit off egg shortages!” and then other paid operatives and useful idiots comment in the comment section how “‘the government’ needs to do something about these greedy capitalists!”. Yes, some of these posts are not from paid operatives, but many are. These are people who work for Marxist and anti-Capitalist non-profit organizations that want to bring down America so they can rebuild it into their own image of utopia where everything is free and all the greedy capitalists are dead or in prison.
The problem is that not everyone knows that there are people out there pumping out dangerous, anti-freedom, anti-American, Marxist social media posts and articles galore. While looking up information about egg prices, I found plenty of ‘articles’ that blamed corporate greed.
What is the actual cause of high egg prices and should we shut down Capitalism to lower the prices? There are several causes, but they all lead to the ultimate cause: when it costs more to sell a product, the price must increase or the seller will lose money. But, but, but, say the anti-Capitalists, egg companies are making record profits!!! Are they? Even if they are, AT THE MOMENT, they are also making up for previous losses.
Egg prices have fluctuated over the past few years along with the supply of chickens related to avian flu outbreaks, the rising cost of chicken feed due to corn prices going up due to corn being used as fuel and the war in Ukraine, media-created hoarding, and the rise in labor costs, the rise in fuel prices which has also been up and down, and the uncertainty in the market in general. In other words, investing in corn and other commodities affects egg prices.
But all of that last paragraph is boring, unless you love economics and hard facts, which the public generally does not. They DO love outrage and blame, however. Enter the Marxists and clickbait websites that supply the dopamine hits of left and right outrage addicts.
The only solution to this problem of people not understanding how real life works is financial education. Children must be taught that economics, which includes the price of their toys and eggs, is a science. Teach them how there are consequences to giving everyone lots of money during the Covid crisis, locking down businesses, locking out immigrants (who often work in meat-packing plants), and that politics plays on people’s emotions. Teach them using real world examples. Give them money and help them learn to spend, save, and invest. Show them how capitalism is nearly universal now because it is the best way to provide increases in the standard of living for everyone, but not EQUALITY. Equality is impossible.
Explain to your children and grandchildren that equality is a lie that will reverse the rapid standard of living increases that have spread throughout the world with globalization. Equality takes from one person and give it to another. Capitalism provides goods and services at various levels of prices depending on what the person wants and can afford. If they want to buy the more expensive stuff, they will need to use their mind and body to make more money. Not everyone is going to be rich, but with capitalism, MORE people will have what they need and want.
Fighting for equality is a luxury of the well-fed leisurely class in rich countries. They rarely contribute anything of real value to the world. By this I mean that people who get paid to fight evil capitalism do not see that they are only able to do this because other people have laid a foundation of freedom and prosperity through actual hard work and productivity. They are standing on the shoulders of the people who built America while trying to tear it down! But I really believe that they think they are in the right. This is why a lack of economics education is so dangerous, not to mention the results of not making your kids do chores when they are little.
Back to the egg prices. Who is really to blame? Anyone who makes policies that increase the cost of doing business. Also anyone who fails to admit that the covid lockdowns are the main cause of the supply issues and that the climate agenda is causing and will cause extreme inflation. In other words, big government, the same people these social media rats think should “fix the problem” by setting price controls on every basic necessity. NO! Price controls, as they would learn if they studied history, always backfire, as do tariffs. Egg prices are a reflection of the economic chaos caused by progressive policies, not capitalism.
I foresee trouble ahead if our government continues on this path that we have already been down before, most recently in the 70s, of price controls and protectionism. Teach your children well, that Marxism is a dead end, equality is impossible, and that they are already richer than any previous generation. Reasonable and rational expectations for how economics works are the solution to the lies of social media disinformation. And warn them that many popular celebrities and musicians are NOT economists, but romantic poets who make a lot of money selling the fantasy of Marxism.
Note, “equality” in many things is valuable, e.g., equal opportunity, equal standing in a court of law, equal pay for equal work, etc..
When equality goes off the rails is when we look for “equal outcomes” instead of equal opportunity.
“But all of that last paragraph is boring, unless you love economics and hard facts, which the public generally does not.” Well put, Paula – all of it.
If education in economics and logic still doesn’t reach the general public, suggest they talk to any one of the hordes of people desperate to come to this country from socialist/communist countries. Ask the why they are leaving their wonderful system of “equality” to live in an evil capitalist country like this …
I was just telling my wife a couple of nights ago how much I loved listening to a certain Youtube interview (it was with hedge fund manager) and current events. Honestly I probably only understood 15% of what he was talking about..lots of terms, or references to things that went way over my head. The guy was highly intelligent, you could tell is brain was going a lot faster than his words…and yet, I do have a working knowledge about finances (thanks to an awesome free on line we took a year or so ago from Hillsdale college on Economics. I am beginning to honestly believe the financial illiteracy we have in our public school curriculum is not accidental. If you were to tell me that 10 years ago, I would have rolled my eyes….not anymore.
Oh! I will have to look up that course on Hillsdale. And I think you are right about the schools since they have always been the realm of the progressives.
I think you will like it. 10 lessons as I recall, w/ quiz’s and a final test. It stirred something in me I hadn’t felt before. (an interest in Economics) 😉 We also took their course on the constitution. Also excellent. (also not taught in public schools to any degree of helpfulness) If it were, there would be a lot more push back when these wonky laws get drawn up violating basic constitutional rights.
Here’s a link to the course we took : https://online.hillsdale.edu/landing/economics-101-the-principles-of-free-market-economics
Thanks ! My kids and I took the Constitution class. That’s where I learned about the regulatory state.
we watched the first lesson of a new Economic course they are offering last night (after leaving you that comment) We loved that one too.
I checked my account and I already took the economics 101 course in 2014. I guess I need to take the next one.
How expensive are a dozen of eggs now? I haven’t bought eggs in a while
Depends where you live . They are over $5 a dozen at Walmart in Southeast Texas for the store brand.