Inflation, Profits, and Wages

For the wage-dependent classes, the inflation phenomenon has determined as a consequence the tendency to constantly lower the purchasing power of wages (/to reduce real wages), i.e. to pay for labour-power below its value, which allows capital to work against the falling tendency of the rate of profit. […] This phenomenon does not depend on the will of capital or of the capitalists, nor on the “good” or “bad” administration of governments which would supposedly be so powerful that they can escape the laws of capital: this phenomenon is an expression of the objective laws of the most developed capital.

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