Agreed. One solution is to privatize key industries. Which won't happen in the USA because capitalism is in charge, and it will not accept any diminution of its control. Period. As soon as someone suggests this idea, the airwaves will fill with cries of "Communism!". Which has become America's favorite epithet. In actuality, capitalism has become fascist. Another word we are not allowed to utter.
I think it's a problem of scale- the big players can do what they like being so distanced from consumers. Small business wants to look after and do its best for its customers. Same with co-operative banks.
Dr. Wolf offers an overly simplistic explanation. At some point he says that it is fair to ask why employers are doing this now, as opposed to some time ago. Presumably the profit motive does not fluctuates. He then proceeded to offer no explanation why employers chose to get away with higher profits now.
Looking at the totality of evidence, it appears to me that the West is committing a suicide on multiple fronts. Who makes such decisions and why? Inflation is both a result of misguided decisions serving ultimately serving financial elites and a deliberate destruction of real economy. The system has done everything possible to reduce capacity to deliver real products, from disrupting supply chains, sabotage of processing plants, reduction of energy flows, to reduction of key supplies like fertilizers, etc. They have also reduced the number of workers through a variety of methods, COVID jabs not excluded. Yes, there are basic capitalist contradictions at work but they simply do not begin to explain what is really happening.
That’s not actually true. I’ve spent my whole career in consumer products and our overall COGs went up 11% so we had to take our first increase in 3 years.
Agreed. One solution is to privatize key industries. Which won't happen in the USA because capitalism is in charge, and it will not accept any diminution of its control. Period. As soon as someone suggests this idea, the airwaves will fill with cries of "Communism!". Which has become America's favorite epithet. In actuality, capitalism has become fascist. Another word we are not allowed to utter.
I think it's a problem of scale- the big players can do what they like being so distanced from consumers. Small business wants to look after and do its best for its customers. Same with co-operative banks.
Dr. Wolf offers an overly simplistic explanation. At some point he says that it is fair to ask why employers are doing this now, as opposed to some time ago. Presumably the profit motive does not fluctuates. He then proceeded to offer no explanation why employers chose to get away with higher profits now.
Looking at the totality of evidence, it appears to me that the West is committing a suicide on multiple fronts. Who makes such decisions and why? Inflation is both a result of misguided decisions serving ultimately serving financial elites and a deliberate destruction of real economy. The system has done everything possible to reduce capacity to deliver real products, from disrupting supply chains, sabotage of processing plants, reduction of energy flows, to reduction of key supplies like fertilizers, etc. They have also reduced the number of workers through a variety of methods, COVID jabs not excluded. Yes, there are basic capitalist contradictions at work but they simply do not begin to explain what is really happening.
Smaller businesses have little control. They are getting hammered even if their prices went up.
yes
That’s not actually true. I’ve spent my whole career in consumer products and our overall COGs went up 11% so we had to take our first increase in 3 years.