In this next of a series of reviews of some important books published this year, I look at Branco Milanovic’s Visions of Inequality.
Visions of inequality
Tag: Labor Theory of Value
Inflation and financial risk
Is inflation coming back in the major capitalist economies? As the US economy (in particular) and other major economies begin to rebound from the COVID slump of 2020, the talk among mainstream economists is whether inflation in the prices for goods and services in those economies is going to accelerate to the point where central banks have to tighten monetary policy (ie stop injecting credit into the banking system and raise interest rates). And if that were to happen, would it cause a collapse in the stock and bond markets and bankruptcies for many weaker companies as the cost of servicing corporate debt rises?
Inflation and financial risk