Inflation and Labor Shortage
This is a REPEAT episode. In 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. Employees, the vast majority, 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 recover from economic crashes but undercut workers efforts to do the same. How capitalism works.
