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Rachel's avatar

Hey Peter, I looked up the actual numbers. They proved your point.

While I still stubbornly cling to the notion that price gouging in the US is real and important, I was ignorant of the actual figures re Corporate Covid giveaway packages. A trillion dollars! Actually more than that!

So, thank you again, and for your patience in helping me understand this stuff.

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Red Letter Republic's avatar

Some aspects of inflation are still not intuitive. For example, sometimes inflation is a net benefit to the working class, and sometimes it’s harmful. When inflation is caused by wage increases, it’s good. But yea, Marxists should advocate tying monetary policy to labor time, where the central bank is legally obligated to ensure that the purchasing power of a dollar only goes up or down based on changes in productivity.

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