I don't know who came up with or whence it came from but quite frankly I don't care. It's a term generally used by populists and leftists looking to demonize or 'regulate'
It's a terrible way of thinking presupposing an all too popular belief among the left that businesses exist for profit strictly by exploiting and gouging.
To think this way is to not understand business and concepts like 'economies of scale' and the idea that prices generally tend to come down over time thanks to efficiencies in production and rising demand.
No company wants to keep prices up for its own sake. They try and follow price signals and go where the demand takes them. If they price themselves out they're out of business because of competitive forces.
Regulation aiming to cap and manage prices only worsen things since it generally slows down entrepreneurial process and natural competition by way of new entrants into a market.- http://friendlymisanthropist.blogspot.com/2017/11/phrases-i-hate_26.html