Inflation, Unemployment, and Monopoly Capital

  • Howard J. Sherman
Keywords: Monopoly, Political Economy, Labor

Abstract

The United States is faced with a brand new economic phenomenon, inflation in the midst of recession. This new phenomenon has emerged only in the last few recessions, and is much more violent in this one. Previously, inflation occurred only in periods of rising demand. A little inflation was normal in each business expansion; a little deflation was normal in each business recession. That pattern held through the recession of 1948, but not since.
Published
1976-03-02
Section
Articles