Special: Adam Tooze on Inflation and the Cost-of-Living Crisis
Jacobin Radio
00:00
What's Going on With Inflation Right Now?
Inflation means a truly general increase in the price of goods and services. In economic theory, capital and labor are not distinct from each other. The Fed is dealing with something which looks more like a classic monetary avalanche. And so wages began in the service sector - where salaries are close to frontier of total cost.
Play episode from 03:21
Transcript
