Thursday, May 26, 2022

It's not those demanding workers who are driving inflation

This came along, shared by economic historian Adam Tooze:

The profit surge in the first phase of the COVID recovery only confirms the stark imbalance of our social conditions. The current debate about inflation and wage-price spirals is - more or less openly - a debate about whether that class balance might be about to shift. And if so, will that shift be merely temporary - an effect of labour market tightness for instances - or will the energy of a new generation of union organizers, impelled in part by rising prices, produce a more lasting rebalancing?

As the logic of capitalism dictates, entities with the power to do it are taking all they can get from an exhausted, restive populace. Might this situation stimulate more worker organizing? Workers deserve some too. And labor assertiveness seems the order of the day.

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