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Inflation, Unemployment, and Monopoly Capital

Howard J. Sherman

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.

Keywords


Monopoly; Political Economy; Labor

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DOI: http://dx.doi.org/10.14452/MR-027-10-1976-03_2

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