From time to time it’s important to return to first principles when trying to understand what’s happening in the world. Inflation is out of control and consumers are getting gouged as the COVID-19 pandemic approaches the two and a half year mark. Why are things so tough? Yes, there are supply chain issues and a war that has driven up energy prices. But there’s more to it than that. Price gouging is driving up the cost of living, too.

What is the goal of a private firm in capitalism? To make a profit. Or, more precisely, to maximize profit. Every other consideration — worker well-being, consumer interests, environmental sustainability — is secondary, if considered at all. Indeed, to the extent that secondary interests are factored into the business model at all, they’re also viewed through the lens of maximizing profit.

It’s no surprise, then, that Canadian corporate giants have been making out like bandits throughout the pandemic. In the Breach, Dan Darrah notes that, while food bank use is surging and 20 percent of Canadians are reducing food intake to save money, grocery giants have more than doubled their profits. That finding comes courtesy of Canadian Centre for Policy Alternatives economist David Macdonald.