foucault at eden.rutgers.edu
Wed Feb 1 17:32:00 MST 1995
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.
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