THE “MUSICAL CHAIRS” OF INFLATION
If you were taking an economics class and had a test question asking, “What happens when a business’s cost of goods goes up?” The correct answer on a test written by a professor would be that the cost gets passed to the customer. In theory, that is correct, but any small business owner will tell a very different story. Inflation comes in waves, with a lag effect. Every node in a supply chain hesitates to …