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Inflation with Richard Wolff & Dean Baker

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What Is an Inflation?

Capitalism is a system geared to doing things that are good for profits. Most capitalists will tell you that they're in business to make money, that profit is their bottom line. And we've also established that they're the ones who set prices. Guess what follows? They set the prices to maximize their profits. The vast majority of us are excluded from setting prices. We can't even set our own price - which is our ability to work. Even that is usually set by the employer who lets us know. So if inflation means prices are going up in general, it means that the employer class of people is raising their price. That's what an inflation is. Not the government. They

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