In this Wolff Responds, Prof. Wolff pushes back against President Biden’s recent statement in which he blames monopolies for the current inflation and calls for an increase in competition. Monopolies have always existed under capitalism, with and without inflation. Competition is built into the capitalist system and creates monopolies. History has shown us that neither competition, nor monopolies solve inflation. Inflation can, and should, be brought under control through governmental policy, but it will never go away until the system in which it exists is dismantled.
Wolff Responds is a Democracy At Work production. We provide these videos free of ads. Please consider supporting our work. Visit our website democracyatwork.info/donate or join our growing Patreon community and support Global Capitalism Live Economic Update with Richard D. Wolff at https://www.patreon.com/gcleu.
No comments:
Post a Comment