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Inflation Politics with Tim Barker
The Dig
Why Did Home Owners Join the Reaction Against Inflation?
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The coalition also encompassed tens of millions of home owners and shareholders, always relatively large in the united states. This rentier middle class was subsequently expanded and consolidated by decades of neo liberal policy. Why did home owners join the reaction against inflation, for tight money in the seventies? As mortgage debtors, wouldn't they have benefited from inflation? Because inflation reduced the value of their debts to the bank.
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