Date: Wed, 1 Feb 95 19:32:00 EST From: boddhisatva <foucault-AT-eden.rutgers.edu> Subject: Inflation To whom..., In considering my recent discussions with Mr. Keen, I have found that his analysis brings to light an issue for which I know of no direct Marxian analysis, and with which I find myself at a loss. That is inflation. What are the thoughts out there on the causes of inflation in a capitalist economy from a Marxian viewpoint ? What is the relationship to underconsumption ? If the market under capitalism is dual - one for capital and goods, the other for profit instrunments and relations - does a market demand for profit play a role ? If we simply accept the capitalist scarcity analysis, does that doom socialist economies to wage/price spirals ? I await your replies with keen interest. peace ------------------
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