Inflation & Unemployment; lecture NYC 2-22

Karl Carlile pad at iol.ie
Mon Feb 19 10:26:46 MST 1996


>Inflation is caused by monopolies protecting their profits by putting
>prices up.
>
>
>Adam Rose
>SWP
>Manchester
>UK
--------------------------------------------------------------

Dear Adam:

This is an absurd claim. If this were true it would mean that >monopolies<
would be able to raise prices randomly in order to further increase their
profits. It would also mean that >monopolies< could give workers wage
increases at will because of their alleged ability to raise prices at will.
Anyway if inflation, as you mistakenly claim, follows the price increases
paper price increases would be neutralised by the resulting inflation.
Consequently there would be no gain to the monopolies.

Even the term >monopolies< used by you is questionable since landlords are
monopolists.
Yours etc.,
                  Karl Carlile












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