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"A Society of rentiers (before the war) is replaced by a society of salary-men and women after the war ... all of that because of inflation." All caused by inflation? I think that you might want to modify that statement.

Perhaps my main point is lost in the particular subject of inflation. The salient point in our current historical context is class war - as in most historical contexts. In the current epoch it is almost a global truism that distribution is more skewed than usual and that any improvement in socio-political conditions must reduce the differential.

External inflation via resource shock? Again, so what as far as the main argument? I submit, though, that such junctures are merely ruling classes at war via different means.

I also submit that both your and ARGeezer's comments about the French response to the petroleum crisis of the '70s are important to the real need, which is development of solutions: namely that the government stepped in via policy and investment.

As to discussions of core, external, cost-push, etc. inflation - please review my characterization in my first post. Please tell me how commodities-prices inflation, centered on petroleum-price inflation, is not class war.

paul spencer

by paul spencer (spencerinthegorge AT yahoo DOT com) on Tue Nov 19th, 2013 at 01:10:15 PM EST
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