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A comment on Analysis finds Australia’s inflation being driven by company profits, not wages. Parent comment

Re:Analysis finds Australia’s inflation being driven by comp... by PYTHONDJANGO on Saturday February 25, 2023 @04:22AM (#34935212)
Please explain how "the market" does set a price.

Please do not do that in a symbolic, abstract way, please describe based on facts who writes a number into a computer that will be the price.

How does this happen?

Do you believe that there is a mythical "market" entity that "creates prices"?

Then please explain how it works. Thanks!

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Re:Analysis finds Australia’s inflation being driven by comp... by drekipus on Saturday February 25, 2023 @05:56AM (#34935643)
> please describe based on facts who writes a number into a computer that will be the price.

The person selling the goods, with a limited but sole-focused understanding of the competitors, stock coming in, stock going out, and forecasting does the best job he can to set the price that maximizes his individual profits

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