Inflation was the number one talking point against the infrastructure bill last fall. Michael Kilecki says a capitalist economy cannot operate economically without full employment. The reality is in the US, we really relied on mass unemployment and a chronically weak economy to settle distributional questions.
In this Live Interview from 7/8/22, we break down US media's inflation discourse that places the blame for rising food and gas prices squarely on the shoulders of greedy Burger King cashiers living high on the government hog. With J.W. Mason, Associate Professor of Economics at John Jay College, City University of New York and a fellow at the Roosevelt Institute.