Value, price, and inflation: Immediate and structural causes

Liberation Audio

Every working person is keenly aware that prices are up. Nasty surprises and disbelief keep turning up at the register. People are being forced to forgo even the most minor and seemingly harmless comfort purchases, adding to the accumulation of the indignities necessary for survival under capitalism. Even worse, the alleged culprits can seem abstract and hard to pin down, like “the supply chain.” Some try to blame good things like higher wages, and others point to enraging levels of straight-up corporate greed. There is a debate raging about which factors cause inflation, with one other “cause” thrown in: government spending. The various explanations serve more as ideological markers than as actual explanations. They all have the virtue of having some “solution” that Congress or the White House can or should pursue immediately. Our indignation at the daily web of injustices we are forced to navigate reflects the contradiction between capitalism and humanity. Inflation reflects the dynamics of a system based on exploitation. Ultimately, there is no long-term solution to inflation or other ills of capitalism without replacing the system. Without such systematic change, all “immediate” solutions produce new cul-de-sacs for the working class. Read the full article here: https://www.liberationschool.org/value-price-and-inflation-immediate-and-structural-causes/