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NEU Senior Regional Support Officer
Inflation: the working class doesn’t have to pay for it
As organised labour gets more assertive at last, we cannot let rising prices outstrip our wages – inflation is the result of monopoly capitalism and the rich must be the ones that are forced ‘cut back,’ explains ZOLTAN ZIGEDY
Inflation vs worker

FIFTY years ago, global capitalism came to a crossroads. The enormous costs of the US’s long, costly Asian war produced great debt and pressure on the gold-backed US dollar.

The imperialist alliance with Israel brought a disruptive, unprecedented boycott on the part of the oil-producing nations resisting Israel’s occupation of Arab territories.

Intense competition between the dominant US economy and the resurgent Euro-Asian economies was shrinking profit margins.

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