The Volkar Shock

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The volkar shock is kind of an experiment. Even volkar himself doesn't know how bad things have to get before he solves the problem. And so i think, you know, manufacturers were close enough to finance to go along with the experiment for a couple of years. But by 19 80, too, things have gotten so bad, the recession is sort of so a deep and scary and potentially unstable,. That there's a sort of a back lash. The distinction between industrial and financial capital does not go away.

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!