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Why must revolutionaries worry about inflation? That cannot be answered without a simultaneous worry about wages. Even in a capitalist system, if wages rise with inflation then that is of benefit to borrowers as they pay back the advance with ‘cheaper’ dollars. The key is the ratio of inflation to the wage. Indexing the wage to the rate of inflation, i.e. say a wage of $20 per hour is increased 100%, to match the 100% rate of inflation, leaves the real purchasing power of the wage the same but devalues debt by 50%. But more to the point here is that inflation, properly used, deliberately induced inflation, can be a monetary tool that we can use as one method of aiding the transition from a capitalist system to a socialist system-- which itself ought be transitioning in its role as a precursor of a communistic economy and society. Inflation. Inflation as a transitional device. Deliberately induced inflation. Created by a printing press ‘bazooka’, initially, to give to all a *GAI (UBI) <https://www.google.com/search?client=firefox-b-1-d&q=GAI+(UBI)>*. And, after an initial pre-inflation wage boost (most important are a rise in the minimum and the guarantee of employment), the creation of new currency a la *nuevo peso *in 1993, and at the same time an indexing to the rate of inflation of wages, pensions, welfare, bank accounts (up to a limit of say the FDIC limit of $100,000), even shareholdings and bonds (to that limit) held by individuals, perhaps in 401Ks, all these would again be protected by being indexed to the rate of inflation. Limits for housing ownership, subject to socially set limits. Savings, incomes, capital gains above that limit (or any limit that society sets) would be subject to being devalued by the deliberately induced inflation. Expropriation through inflation. _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
