Inflation, Prices and Distributive Conflict
Introduction Inflation has returned to the centre of public debate in the 2020s. In public discourse it is often described as a technical problem: excessive money creation, supply shocks, or temporary imbalances between demand and production. These explanations are not incorrect, but they are incomplete. They overlook a more fundamental question: why does inflation reappear recurrently in capitalist economies, and why are its effects so unevenly distributed across social groups and firms? ...