chelmsford
Forum Replies Created
-
Posts
-
The letter in the latest Weekly Worker from Arthur Bough demolishes (not for the first time) Michael Robert’s argument.
The SPGB line on inflation is vindicated (by a CPGBer).
Never doubted it for a moment.It is Engels who comments on the ideas of Ricardo and Mill. Beginning of chapter 34 and page 680 of the Pengiun addition.
What they say is very much like the SPGB understanding of inflation, and Engels rubbishes it.
The SPGB argument is woefully wrong, wrong, wrong!Merely going on Marx’s comments in volume three on the monetary theories of both men. Mill, it appears, was deeply suspicious of the pound note. Always rather liked them myself.
Roberts seems to confuse a (temporary?) rise in prices due to ‘the restriction of supply, both in production and transportation’, something that goes on all the time in capitalism, (and which governments have little or no control over) with an annual rise in the general price level due to a government depreciating the currency. Two different things.
The SPGB argument is spot on.The article on inflation by Michael Roberts in the latest Weekly Worker makes no mention of an excess issue of notes and coins as the explanation for inflation. Paul Mattick was of the same opinion.
The SPGB account looks like that put forward by Ricardo and JS Mill, both dismissed by Marx.Rod Hull dies in an unexplained accident breaking his crown after falling off a ladder while fiddling with his TV aerial. About the same time this ‘Camilla Parker-Bowles’ person mysteriously turns up. No one ever these two people in the same room at the same time.
My old peepers will be glued to the telly this Saturday. I don’t want to miss seeing Emu wrestling with the monkey on the stick.Steele was responsible for that frenzied toe-tapper ‘Little White Bull’ unleashed onto an unsuspecting public in 1957. It topped the charts at number 6. He abandoned Socialism and embraced Propertarianism after reading Ludwig Von Mises between ‘takes’ during the filming of the 1967 Hollywood blockbuster ‘Arthur Sixpence’.
On my last visit to the colonies I had the tremendous pleasure of meeting Sasquatch (to whom, incidentally, I am distantly related on my mother’s side). He told me a simply marvelous story about Harold Acton and Gertude Stein. Though I now forget the exact details. I urged him to stand for President. He bummed a ten dollar bill off me and said he would think about it.
The Wuhan ‘Flu showed us what the working-class does in an emergency – it clears the supermarket shelves of lavatory paper. Quite sensible really, considering what it will be doing when the four-minute warning sounds.
In my humble judgement (odious phrase) why not simply abandon this thread. If anyone still has something interesting to say about this boring billionaire’s brawl post it to the Ukraine War thread. Of course this must be on the qt – no letting on to the Scotswoman.
You have to hand it to capitalism, it’s managed to negotiate (in a less than smooth way) technological innovation from the first primitive steam engines right up to these AI gizmos (and beyond?). Far from capitalist relations of production being fetters these relations display a dispiriting flexibility.
