> Message: 9 Date: Sun, 25 Jan 2015 13:15:58 +0100 (CET) > From: Hinrich Kuhls <[email protected]> > Subject: [Pen-l] A new economic reform effort in Greece and Europe
Thank you very much for these references. Very useful mine of 'facts' rather than opinions. Admittedly, I do have to spend a lot more time than I have done so far on them. However in one document from the Rosa Luxemburg Institute, it is stated by Flassbeck & Lapavitsas (F & L): "With open eyes and without ideologi- cal barriers the ECB would have found early on that unit labour costs, not the money supply, are the main de- terminant of inflation for the union as a whole, as well as for its national entities. >From p.16 : In: Flassbeck, Heiner; Lapavitsas, Costas (2013): The Systemic Crisis of the Euro - True Causes and Effective Therapies. http://www.rosalux.de/news/39476/flassbecklapavitsas-studie-the-systemic-crisis-of-the-euro-true-causes-and-effective-therapie.html My question to you and all on the list may be viewed as naive - nonetheless: I had always understood that it was indeed the money supply driving inflation. Indeed as I recall it in prior writings that Marx had also believed that. What am I missing? Is the view expressed by F & L - in fact correct? Thanks in advance for your views. Hari Kumar _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
