"Even with the government subsidies, people in #Egypt, #Tunisia, #Syria, #Algeria and #Morocco spend between 35 and 55 per cent of their income on #food. They’re living on the edge: small price rises bring #poverty and #hunger."
➡️braveneweurope.com/michael-robert… #wellbeing #consumption
➡️braveneweurope.com/michael-robert… #wellbeing #consumption
"Just before the pandemic, in 2019, American non-financial corporations made about a trillion dollars a year in profit, give or take. This amount had remained constant since 2012. But in 2021, these same firms made about $1.73 trillion a year. ...
... That means that for every American man, woman and child in the US, corporate America used to make about $3,081, but today makes about $5,207. That’s an increase of $2,126 per person. ...
... It means that increased profits from corporate America comprise 44% of the inflationary increase in costs. Corporate profits alone are contributing to a 3% inflation rate on all goods and services in America."
"A Marxist theory of inflation looks first to what is happening to supply and, in particular, whether there is sufficient #value creation (#exploitation of labour) to stimulate investment and production."
"There is an alternative to monetary or wage restraint, these policy proposals of the mainstream, acting in the interests of bankers and corporations to preserve profitability. It is to boost investment and production through public investment."
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