The Dig: Inflation Politics with Tim Barker
Jacobin Radio
00:00
The Volker Shock and the Recession
In the 1970s, General Electric had a lot of confidence in their ability to raise prices. A little bit of inflation means that you want to get the money out the door and make it buy stuff for you. But another thing that's happened is that the companies themselves have become more international. And so there's less of a feeling that industrialists can just kind of live with inflation by raising prices.
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