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Monetary Politics w/ Tim Barker

The Dig

CHAPTER

Kolesky's Analysis of Inflation

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.

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