Wolff Responds: Why Economic Policy = Class Struggle

In this Wolff Responds, Prof. Wolff underscores the importance of calling US “economic policy” what it really is: class struggle. The current inflation, as well as the Federal Reserve’s choice to raise interest rates, is hurting the working class significantly more than the employer class. This is class struggle—the 1% vs the 99%—because if employers struggle economically, they can raise prices while keeping employees’ wages stagnant throughout the inflation. In this struggle, Prof. Wolff reminds us, there are alternatives the government can do to control the inflation and we should not be fooled when they say otherwise.

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