THE WAR ON INFLATION IS A CLASS WAR
https://images.jacobinmag.com/wp-content/uploads/2025/07/13150541/2048px-President_Ronald_Reagan_and_Paul_Volcker-900x588.jpg
✍️ The article discusses the risk of stagflation in the US economy and its potential impact on labor and capital. It also explores the historical context of stagflation in the 1970s and the policy responses that followed.
👉 The US economy is at risk of stagflation, a combination of high inflation and economic slowdown. 👉 The 1970s stagflation crisis was caused by a combination of factors, including high federal spending, global supply shocks, and an expansionary monetary and fiscal policy regime. 👉 The Volcker Shock, a dramatic increase in interest rates, was a key policy response to the 1970s stagflation crisis. 👉 The subsequent rise of neoliberalism, led by the Reagan administration, led to a shift in economic policy that prioritized capital over labor. 👉 The current economic situation is at risk of stagflation due to a combination of factors, including the COVID-19 pandemic, supply chain disruptions, and the rise of neoliberalism. 👉 Alternative economic policies that prioritize social justice and material safety are needed to address the potential implications of stagflation for labor and capital.
-- #JeromePowell #PaulVolcker #RonaldReagan #A.W.Phillips #MiltonFriedman #HelmutKohl #GiovanniArrighi #AlanBlinder #MohamedEl-Erian #BillDudley #BenBernanke #DavidRatner #KarlMarx #RosaLuxemburg #GretaKrippner #KamalaHarris #UnitedStates #OPEC #Germany #economy
Loading quoted post…
