The Socialist Program with Brian Becker ‘You DON’T Want Lower Prices’? Economist Richard Wolff Rips WaPo Propaganda
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Dec 3, 2025 
Economist Richard Wolff, co-founder of Democracy at Work and a prominent voice on Marxian economics, joins to challenge a controversial Washington Post article that suggests lower prices may not be beneficial. He critiques this notion, emphasizing the importance of price stability and the economic distortions caused by rising prices. Wolff further explores the role of corporate profit motives in price-setting and debunks myths linking price declines to recessions, highlighting that productivity can lower prices without negative economic consequences.
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Price Stability Is A Policy Goal
- Stable prices are the goal of capitalist macroeconomic policy because volatility distorts production and consumption decisions.
- The Federal Reserve exists largely to maintain price stability because private capitalism fails to do so reliably.
Inflation Can Be Self-Reinforcing
- Inflation becomes self-reinforcing as people shift purchase timing and behaviors in response to rising prices.
- Those behavioral shifts can accelerate price rises and erode the real value of savings over time.
Nixon's Wage-Price Freeze Example
- Richard Wolff recalls Nixon's 1971 wage-price freeze as proof governments can control prices.
- Nixon criminalized raising or lowering wages and prices temporarily to halt volatility.
