The Terminal Crises of Global Capitalism
Economic Update with Richard D. Wolff
00:00
Wages Going Up Is the Cause of Inflation
Every business knows that at any time any of its costs can go up. It doesn't pass along every increase in higher prices because it can't take that risk. You cannot justify 8.5% inflation if all the workers are getting is 5% more. Profits going up a lot more than 8%? And that's why prices get raised.
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