How do you lower prices?

[blackeagle007]

From an economic standpoint, how do we do it? Do we increase supply which lowers demand?

[Chazmatazz269]

The goal shouldn’t be to lower prices so much as improve value. Too many people are buying made in China garbage because it’s cheap. Spend more to get a quality product made in the USA, or your own domestic market. Support your family, friends and neighbors and make sure your money benefits the local economy.
I’m in favor of restricting the salaries of the unproductive people at the top of corporate hierarchies. There’s no reason for the CEO & CFO of a company to be making millions of dollars a year while refusing to pay more than minimum wage and provide basic healthcare benefits. It’s pure, unadulterated greed fostered by our gloriously under-regulated capitalist system. The average CEO makes 400-600 times more than the hourly workers they employ who actually produce the products and services that generate revenues. It just doesn’t make sense.

[blackeagle007]

Tell that to whoever hired the CEOs

[Syntosi]

From a national perspective and for most situations, you dont. Everything is always framed from the perspective of growth, and for good reason. You dont "lower the price of groceries", you promote growth in wages. You dont "lower the cost of fuel", you increase the amount of money that the customer has. Modern economic models are very one-way in this regard and things generally get very ugly if you try to force it to go the other way.

[Anonymous]

get rid of the red tape bureaucrats whom approval needs to go through first

open up jobs in the resource industries, less jobs in non-resource industries

reduce taxes overall for everyone and money that is to be spent should do so that returns it back to the economy

[Spencer10]

A recession is pretty much the only way. Supply must be larger than demand. Economic forces reduce demand.

[blackeagle007]

Makes sense.

[Spencer10]

The Pandemic was not a recession. Prices stayed high because of supply chain disruption limiting supply. There are usually economic cycles that keep prices under control. Recessions are necessary sometimes to re balance things... There really has not been a correction since 2008. I fear instead of a controlled recession there will be an economic crash. That will definitely lower prices.

[blackeagle007]

Wouldn’t any recession make unemployment skyrocket?

[Spencer10]

Skyrocket? No necessarily. Some recessions can be quite mild.

[blackeagle007]

20 years ago was pretty bad

[jshm2]

LOL, you don't.

The game of chicken Trump is trying to play; ensures prices don't come down, but his ilk profits regardless.

[DrPepper12]

You don't. Inflation is actually a sign of a healthy economy if low, predictable & stable.

[Anonymous]

Well, according to economic theory, if you stop buying stuff, the prices will drop. So go ahead and stop buying stuff that you don't really need, like food, and the price should drop.

According to Trump, poor people don't need food.

[DryGermanGuy]

Lowering tariffs and sales tax would help.