356. Pandemic wins

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I just read on the financial papers that the inflation resulting from economic stimulus post pandemic is good for stocks, which was presented as a positive. This may well be the case but, even if some individuals, with significant stock investments, may regard it as positive, society certainly cannot. Inflation reduces the acquisitive power of all families, many of which are already just managing, to quote Theresa May. Growth in stocks value would be a positive only for a few, for those whose stocks yields represent a larger proportion of their income than the proceeds of their work and that, sadly, is not the case for most. Thus, this inflation, welcomed with the words Good News by the relevant paper, will be another of the many mechanisms by which the pandemic would have increased inequality. And this is the key challenge of capitalism. Unabated and without restraints, that is just what it does. Most events, framed in it, increase inequality, accumulation being intrinsic to its nature

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Location: Hereford, UK

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