Profiteered Meaning: Definition, Examples, and Translations
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profiteered
[ˈprɒfɪtɪəd ]
Definition
unethical gain
To profiteer means to take advantage of a situation, typically during a crisis, to gain excessive profit, often at the expense of others. This term is often used in the context of businesses that exploit shortages or emergencies to inflate prices unjustly.
Synonyms
capitalized, exploited, gouged, monetized.
Examples of usage
- The company profiteered during the pandemic by raising prices on essential goods.
- Many accused the landlords of profiteering when they increased rent after the hurricane.
- Profiteering from the war led to public outrage and calls for regulation.
Translations
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Interesting Facts
Economics
- During times of crisis, such as wars or natural disasters, some businesses may increase prices excessively to maximize earnings, often seen as unethical.
- Governments sometimes establish price controls to prevent businesses from taking advantage of consumers in essential markets.
History
- In the U.S. during World War II, price controls were introduced to combat rampant profiteering from shortages of goods.
- Historically, profiteering is often linked to wartime economies where necessities are scarce, leading to high inflation.
Social Issues
- The practice often draws public outrage, especially when it affects basic human needs like food and medicine, highlighting ethical questions in capitalism.
- Activism around profiteering has led to calls for reform in corporate practices and better regulations.
Literature and Media
- Many novels and films explore themes of greed and exploitation, showcasing characters who profit at the expense of others.
- Social commentators often critique rampant profiteering in popular culture, calling attention to its effects on society.
Origin of 'profiteered'
Main points about word origin
- The word comes from the root 'profit', which means gaining something, and '-eer' meaning someone who engages in a specific activity.
- It's related to 'profiter', the French term for making a profit, showcasing the international connections in commerce and trade.
The term 'profiteer' originates from the French word 'profitier', which combines the Latin word 'proficere' meaning to accomplish or to advance, with the suffix '-eer', which denotes someone engaged in an activity. The use of the term gained prominence during times of war and economic strife when individuals or companies would attempt to make unusual profits by taking advantage of demand surges for scarce goods. Historically, profiteering is associated with unethical practices, often leading to public outcry against those who exploit crises to make excessive profits. Its negative connotation reflects societal disdain for greed and manipulation in commerce.
Word Frequency Rank
At position #42,496, this word is among the less frequently used terms in English. While interesting to know, it's not crucial for most English learners unless needed for specific purposes.