The Left and Labor Support Expansionary Monetary Policy

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A big change from the 19 seventies to now is that, to day, financiers and owners of assets are leading the tight money coalition against workers. On one hand, if asset owners have their own reasons to resist tighter fed policy, the cause of full employment may have gained an awkward ally. But on the other hand, that means that the left and labor are supporting expansionary monetary policy which is also priming the pump of a stock market boom. So what? How shall we think about all this? Yes, it's really complicated.

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!