Re(2): Re(3): RE: Wages and Panic Buttons

Ellen Frank frank at
Thu Aug 5 15:28:56 PDT 1999

lbo-talk at writes:
>2) if inflation is the result of the fight between labor and capital
>(which implicitly in every version of this theory is that unions are
>stronger than capital for sustained periods of time putting enough
>pressure on costs to make capital increase the mark ups so you get
>inflation) how do you explain the Argentinian, Bolivian, Brazilian and
>other latin american nations inflations during the 70-80's when all labor
>institutions were destroyed???????
Who says in a fight between capital and labor, labor is going to win, or even come out ahead?

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