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Inflation Is Political

Rising inflation is driving the cost of living crisis, but it isn’t an act of God. It’s the result of policy decisions that favour the rich — and socialists need to have an alternative.

Attitudes towards inflation have long been seen as a dividing line between left and right. Most Keynesians saw rising prices as a small price to pay for an otherwise healthy economy, given that tackling inflation tended to require higher interest rates, which curtail investment, output, and employment over the short term. Neoliberals, on the other […]

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