Inflation—it’s a word that’s been tossed around a lot in the past year to explain our economic woes. But what exactly is inflation? And what are the forces currently driving the greatest price hikes in decades?
For today’s show, Thursday host Allen Ruff is joined by economist Richard Wolff to demystify what’s going on with inflation and the rising cost of, well, everything.
Richard D. Wolff is professor of economics emeritus of the University of Massachusetts, Amherst, and a visiting professor in the graduate program in international affairs at the New School University, NYC. He is the founder of Democracy at Work and host of their nationally syndicated show Economic Update. His latest book is The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself (Democracy at Work, 2020).