Making Sense of Today’s Inflation - Debt, Austerity and Tax Cuts

In this episode of Anti-Capitalist Chronicles, Prof. Harvey uses the diagram of capital’s circulatory processes, shared in the last episode, and applies it to the pressing issue of inflation today. Harvey draws parallels to how inflation was handled during the Reagan and Thatcher administrations, with austerity politics and the resulting reduced standard of living for the working class. These attacks on social expenditures were explained as  necessary to curb inflation, yet there is much more to the story. By utilizing the framework of capital’s circulation within a capitalist mode of production, Harvey reveals the many possible causes of inflation and how public policy often has hidden intentions.  To download the diagram: https://www.dropbox.com/s/qcd7k6so6v4jhss/capitalism-cycle.pdf?dl=0 Support Anti-Capitalist Chronicles and Democracy at Work on Patreon at www.patreon.com/democracyatwork