The Cost of Living Crisis (and how to get out of it)
The Verso Podcast
00:00
What Happened When Prices Begun to Rise?
Austerity is coming back, of course. But remember George Osman at the treasury telling us that austerity is an excellent idea? What a disaster. And he was a policy disaster. When the shocks came, they forgot about it. They discovered the monthly money tree. It was behind the software. The combination gave a boost to demand which was very substantial. Two to make support. If supply is weak, if supply is disrupted, you're going to get price increases. That's what you'll get. John Maynard Keynes pointed that out, a long time ago. I was weak.
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