"how businesses set prices is a legitimate question, both as an object of inquiry and target for policy…there is a wide range over which prices are, in an economic sense, indeterminate. Depending on competitive conditions and the strategic choices of firms, prices can be persistently too high or too low relative to costs. This indeterminacy means that pricing decisions are, at least potentially, a political question. "
a tour de force by @jwmason https://jwmason.org/slackwire/in-praise-of-profiteering/