Re: The Cure for Inflation: Price Caps? (w/ Richard Wolff)
Posted by Tomski on June 30, 2022, 12:10 pm, in reply to "The Cure for Inflation: Price Caps? (w/ Richard Wolff)"
I like old Wolffie. Thanks. |
The 1% are jacking up prices, squeezing the toilers for profit. Mentions the problem of the supply chains. 'Just in time' production (a Japanese invention btw) is caused because 'they' don't want keep the stock in the warehouses. Both typical capitalist shenanigans - think lack of medical supplies we had during pandemic for the latter.
I was surprised about the factoid that Nixon placed the price cap in the 70s which killed off the inflation then.
We do have price cap at the mo in the UK in the energy sector? It ain't working very well since we have comparable inflation here. It would be good to hear if Mark Blyth has anything to say about it.
Only had time for 35 min viewing, but it was well worth it.