Tristam the Social Democrat (Pietro Nenni stan)🌹
12 Nov,
4 tweets, 1 min read
Inflation is about class conflict.
Unions strike, increasing wages. Firms protect their margins by raising prices. Increased wages cause demand-push inflation etc.
Paul Volcker carried around an index card with the schedule for union contract negotiations on it.
Unions strike, increasing wages. Firms protect their margins by raising prices. Increased wages cause demand-push inflation etc.
Paul Volcker carried around an index card with the schedule for union contract negotiations on it.
Currently, the government paid people substantial amounts and spending has risen.
A record 4.3 million people quit their jobs, which destabilized control over labor and wages to increase.
In the face of rising energy costs, firms protect their record markups by raising prices.
A record 4.3 million people quit their jobs, which destabilized control over labor and wages to increase.
In the face of rising energy costs, firms protect their record markups by raising prices.
So inflation appears at the seams between various distribution struggles and their intersections.
Correction: *demand-pull*
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