A weekly show focusing on the economic dimensions of everyday life and alternative ways to organize our economy and politics, with Prof. Richard D. Wolff.
On this week’s show, Prof Wolff talks about the social effects of inflation and the lack of accountability on the part of employers. Capitalist employers set prices with the only motive of maximizing their profits. Employees, the vast majority of people, must live with inflation, but are excluded from decisions setting prices. Employers scream “labor shortage” to get the government to force workers back to work at low wages. Employers also recover from economic crashes while undercutting workers’ efforts to do the same — and that’s how capitalism works.
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Source URL — https://roarmag.org/2021/07/12/economic-update-inflation-labor-shortage/