The Dig: Inflation Politics with Tim Barker
Jacobin Radio
00:00
Why Did Homeowners Join the Reaction Against Inflation?
The coalition also encompassed tens of millions of homeowners and shareholders. This rentier middle class was subsequently expanded and consolidated by decades of neoliberal policy. Why did homeowners join the reaction against inflation and for tight money in the 70s? Because as mortgage debtors, wouldn't they have benefited from inflation? because inflation reduced the value of their debts to the bank.
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