it’s just not the case anywhere in developed countries for the past 40 years.
How much have productive capacity and number of workers increased by in Europe and the USA over the past 3 years?
That’s literally what I said at the top comment. The wealth is being concentrated at the top 1% due to neoliberal policies and monopolists charging what they want (this is known as the sellers inflation, which Marx talked about). This happens due to a lack of strong labor union movement that can push wage growth through the price increase set by the capitalists.
What I am saying is that deflation is much more dangerous than inflation, because inflation, as you described, can be easily fixed through policy change - you simply expand the productive capacity, more workers can be employed, and the increased supply of goods will lessen the inflation. The fact that your neoliberal governments refuse to help poor people is beside the point.
Deflation is much harder to get out because once baked in, can spiral very easily. This is because money is debt… it has a time component, and if the system does not have a debt cancellation mechanism, it can drag the entire economy down. This is a problem you don’t have to face under inflation.
That’s literally what I said at the top comment. The wealth is being concentrated at the top 1% due to neoliberal policies and monopolists charging what they want (this is known as the sellers inflation, which Marx talked about). This happens due to a lack of strong labor union movement that can push wage growth through the price increase set by the capitalists.
What I am saying is that deflation is much more dangerous than inflation, because inflation, as you described, can be easily fixed through policy change - you simply expand the productive capacity, more workers can be employed, and the increased supply of goods will lessen the inflation. The fact that your neoliberal governments refuse to help poor people is beside the point.
Deflation is much harder to get out because once baked in, can spiral very easily. This is because money is debt… it has a time component, and if the system does not have a debt cancellation mechanism, it can drag the entire economy down. This is a problem you don’t have to face under inflation.