Mask-off outbursts by Maga insiders and most strikingly, the destruction and reconstruction of the presidential seat, with a huge new $300m ballroom, means Trump isn’t planning to leave the White House when his term ends, writes LINDA PENTZ GUNTER
Latest editorial
Inflation: refusing to pay for it
In the past, the Western ruling class has sought to manage inflation by ensuring that rising prices are not matched by growing salaries — but the global environment and domestic resistance from the organised working class are making this difficult, writes PRABHAT PATNAIK
The fact that inflation is sought to be controlled by squeezing the share of the working class does not mean that the working class was responsible for starting the inflationary process. In fact, the two phenomena have nothing to do with one another.
BEN CHACKO speaks with Knesset member OFER CASSIF about rising political violence, the prospects for peace and his continuous ‘silencing by suspension’
The City is leaning on Rachel Reeves to cut welfare spending — when what’s needed is cuts to all the benefits given to the mega rich, corporations and banks to help them not pay or blatantly dodge their fair share of tax, explains BERNIE EVANS
The choice between two Blairites to revamp the tepid centrism of our ruling party doesn’t even come as cold comfort as we wander the city streets suffering from their third decade of austerity and the fifth of wage stagnation, writes MATT KERR
ANN HENDERSON looks at the trailblazers of the Women’s Trade Union League and their successful fight for female factory inspectors — a battle that echoes in today’s workplace campaigns
HENRY FOWLER puts the strike of public-sector workers in New Zealand in the wider context of deteriorating employment conditions throughout the world’s major economies
MAT COWARD looks back at a protest 105 years ago this month, whose reporting by the media bears uncomfortable similarities with demos today
ECONOMISTS distinguish between two kinds of inflation: “demand-pull” and “cost-push.” Demand-pull inflation is said to occur when there is excess demand in a situation where supply cannot be augmented, because full capacity output has been reached in one or more crucial sectors. Wartime inflation is a classic example.
In India during the pre-neoliberal, dirigiste period, inflation was often the result of an insufficient grain output relative to demand, arising from a poor harvest.
Cost-push inflation on the other hand occurs when supplies can be augmented, as the economy is nowhere near full capacity in key sectors, but one of the classes tries to raise its share of output, by demanding a higher price for the input it provides, while other classes are unwilling to lower their shares, giving rise to a tug-of-war, which manifests itself through inflation.
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