Marxist economist Michal Kolesky interpreted inflation as a distributional struggle over the surplus that society produces. And so you can see inflation as a sort of fight over workers have wages, which represent their money claim to goods and services. You can imagine a spiral where the inflation leads workers and capitalists to try to defend the real value of their wages and profits against the inflation.
Featuring historian Tim Barker on the state of monetary politics amid the current fight over inflation.
Check out my July 2021 interview with Barker if you want a more expansive primer on inflation thedigradio.com/podcast/inflation-politics-with-tim-barker
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