The monarchy in the UK is subject to scrutiny, questions and ridicule.
A New York Times report – King Charles Inherits Untold Riches and Passes Off His Own Empire – by Jane Bradley and Euan Ward on September 13, 2022 said:
“King Charles III built his own empire long before he inherited his mother’s.
“Charles, who formally acceded to the British throne Saturday, spent half a century turning his royal estate into a billion-dollar portfolio and one of the most lucrative moneymakers in the royal family business.
AS KING Charles is proclaimed in towns and cities across Britain, the police are removing — and in some cases arresting — people who protest at this.
A woman escorted from the Palace of Westminster for holding up a small A4 sign saying Not My King. A woman arrested in Edinburgh for holding up an anti-monarchy placard. Peace activist and frequent Morning Star contributor Symon Hill arrested in Oxford, for shouting: “Who elected him?” during the proclamation there.
This reflects a dangerous authoritarianism on the part of the police.
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. War-time inflation is a classic example. In India during the pre-neoliberal, dirigiste period, inflation was often the result of insufficient foodgrain 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.
European countries, as well as the United States, continue to be imperiled by an economic crisis following the imposition of sanctions on Russia. The policy has backfired spectacularly and has had worse economic ramifications on those levying the sanctions, than those being sanctioned. In this week’s episode, Lowkey speaks to respected U.S. economist Dr. Richard Wolff, discussing the links between the war in Ukraine, inflation, and the class war at home.
Before exploring the people’s definition of inflation, Dr. Wolff contextualizes the economic crisis currently unfolding across the West.
You can see that measuring life expectancy at birth is not a perfect guide to how long humans did live in pre-capitalist societies. Nevertheless, there is no doubt that life expectancy on average rose sharply once science came to bear on hygiene, sewage, knowledge of the human body, better nutrition etc. Of course, there were sharp inequalities in life expectancy in class societies between rich and poor.