Volker: What were the actually existing causes of inflation at the time, where did or didn't rising wages factor in? And then how did this consensus emerge? To blame it entirely on wages? Yes? So this is something eno people still argue about to day. No one has really come to a definitive answer.
Inflation is once again at the center of political debate. Dan interviews Tim Barker to put monetary policy in its historical and class war context.
Reading:
Preferred Shares by Tim Barker phenomenalworld.org/analysis/wage-share
email digradiopod@gmail.com for PDFs of the following two articles:
The Vietnam War and the Political Economy of Full Employment by Dean Baker, Robert Pollin and Elizabeth Zahrt
Class Conflict and the "Natural Rate of Unemployment" by Robert Pollin
Support The Dig at Patreon.com/TheDig...and join The Dig's brand new Discord!