The Doctrine of Inevitability

Charles Brown CharlesB at
Tue Oct 6 08:36:29 PDT 1998

Doesn't general inflation mean lower prices which means lower costs for the working class as one of the most direct results of deflation ? Although, inflation helps the working class as debtors, deflation helps the working class as consumers. It is like the reverse of a sales tax. So, just as the latter is regressive, its reverse has progressivity.

Hasn't the continuous inflation of the immediately previous long term period ( since at least 1970 or so) been in part the result of monopoly ? Isn't deflation in some sense an undermining of monopoly price fixing ?

Charles Brown

>From the market to the Marxit

>>> <MScoleman at> 09/02 5:40 PM >>>
In a message dated 98-09-01 12:49:01 EDT, you write:

<< Rakesh Bhandari wrote:

>Oh, on the question at hand, does deflation only benefit bond holders?

>Can't it aid the centralization process as well--driving weaker capitals

>to the wall, allowing better positioned ones to pick them up for a song?


I think deflation would also help those locked into wage contracts and fixed incomes. Since real income is a function of money income divided by costs, if costs go down, real incomes will increase.....and they are about to pension me off, yeah!

maggie coleman mscoleman at

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