[lbo-talk] inflation and Ernest Mandel

[Brad DeLong]

>Lance Murdoch wrote:
>
>>
>>Ernest Mandel says inflation occurs because workers are paid to work in
>>the defense industry, but the goods are not used by consumers, so
>>inflation occurs in the chase for commodities.
>
>So why did inflation fall during the Reagan buildup, and is falling 
>again during W's?
>
>Doug

Because Doug can't think dialectically? After all, it's not actual 
"inflation" that occurs, but rather a tendency towards inflation, 
which was present during the Reagan buildup and is present again now!

To the reeducation camp with Doug!

Brad DeLong