Inflation: Everywhere and Always Differential
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Date
2022
Authors
Fix, Blair
Journal Title
Journal ISSN
Volume Title
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Abstract
In November 2021, I wrote a post called ‘The Truth About Inflation’. At the time, inflation fears were heating up. And as usual, mainstream economists were missing the bus.
Sure, economists pointed to the consumer price index and said, “Look, it’s going up!” But they didn’t look under the hood of this index to see the big picture. Despite what economists proclaim, inflation is not a uniform increase in prices. It is an instability in the whole price system.
It’s now been a year since that post was published, so I thought I’d update the analysis. While much has changed in the global political landscape, the underlying picture of inflation remains the same: it is everywhere and always differential.
Description
Keywords
capital as power, income distribution, inflation
Citation
In November 2021, I wrote a post called ‘The Truth About Inflation’. At the time, inflation fears were heating up. And as usual, mainstream economists were missing the bus.
Sure, economists pointed to the consumer price index and said, “Look, it’s going up!” But they didn’t look under the hood of this index to see the big picture. Despite what economists proclaim, inflation is not a uniform increase in prices. It is an instability in the whole price system.
It’s now been a year since that post was published, so I thought I’d update the analysis. While much has changed in the global political landscape, the underlying picture of inflation remains the same: it is everywhere and always differential.