Inflation Scapegoats - Global Capitalism with Richard Wolff
Prof Wolff debunks the most common scapegoats we hear when there is an inflation, and shows us the real issue when profit-driven enterprises set the prices.
"An inflation moves wealth from the buyer to the seller. That's what it's for, and they know you might be angry about that. You might decide that you are being ripped off... That might make you upset because you'd be confronted with that reality. It's bad for you to pay more, and it's good for them to get you to do it. So, the capitalist class, when there's an inflation, becomes very loud about scapegoating somebody else." - Richard Wolff
This is a clip from the March 2022 Global Capitalism Lecture: The Inflation: Causes, Effects & Outlook You can watch the full lecture here: https://youtu.be/2KDYZgBLQ3E Or listen to it as a podcast on your favorite podcast player!
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