AskProfWolff: Why do Prices Rise in Capitalism?

A patron of Economic Update asks: "My friend and I have backgrounds in economics -- in fact I took economics back in the late 1980's at the time of Reagan, and I have taken it again recently. What shocked me was that they were teaching the same monetary theory today in the age of infinite creation of the medium of exchange through printing and through credit -- where the size of the money supply is no longer under anything resembling central bank control. No one I have ever met has been able to explain to me why, in light of what I know about economies of scale reducing unit costs and leading to efficiency and the burst of industrial technology in our age -- why do prices of consumer goods continue to increase while quality consistently decreases? Is this just because people have lost hope that things could be any other way? Why do I hear of deflation as a negative thing -- wouldn't this mean more disposable income for everyone, all things being equal?"

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Learn more about Prof Wolff's new book, The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself, that comes out mid-September:

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Showing 4 comments

  • Dwight Clark
    commented 2020-09-06 12:47:36 -0400
    Greetings esteemed Professor, just trying to keep you in top form- interview with contending economist regarding Austraila. They just posted their 1 st decline in so many years or months, your position on this matter was puzzeling, 4-7 years approach…however with Animal Spirit (s) position, the believe that money would continue to flow in, inherent dynaism sp everything would keep going…this seems to be applicable with Austrailia in its relationship with China. I would look forward to your review in this matter in hopes that Animal Spirit concept maybe applicable in the here and now, be encouraging to others that are in contestment sanctions..they loose out of this type of dynaism that possibly only China can promote. Notice after Eathquake Zeus presentation their was a great increase in quakes along the ring of fire? Aset was attributated to that review that evidently a lesser presumed to screw up. Why there is so many new car sales, homes, furnishings.. Melana is of European descent- attempt to monetize the real Aset. So many schemes, trying to get the real Aset, for you to go to work…patience Professor, Counters are in motion, no worries. The Europeans bought Art because they could in many ways appreciate it, these here for the money…they are in need of being brought up properly! Anubis cracks the Royal Whip! Stay ready, in play outs!
  • Dwight Clark
    commented 2020-09-02 14:20:21 -0400
    Remember this country was referred to as Infant Nation by Europeans…England with 13 Colonies a prelude to conversion now britexit along with this country regressing into stomping monster ref little horn pulling up 3 horns of 10 horned stomping beast bk Dan. This over with, Infant Nation becomes Son of Osiris returns back to …Europe-Aset forms HerusaAset. Political, Economic Cultural Union.
  • Dwight Clark
    commented 2020-09-02 14:02:35 -0400
    Las Californias of femine gender, 7.0 haiti removed in order that annual festivities with Dominican Republic recovered. Las Californias Amazons keep the girls, Islanders keep the boys. Additional Philstine Continuance utilized to express jesus…attempt to contain Heru the Younger possibilities…Review Tiger jumps out of balka on 2 Soviet Calvery Officers, 1938 Tigrovaya Balka tiger preserve est. Soviets near end of WW2 after loosing 25-40 mill become Hushenyin like a Supernatural Empowered Tiger, tit for ta with Western Powers, nudge China from behind Great Wall in subtle fashion as the Western Powers embrace China. Becoming a Great Power. Further review, Qing Dynasty with tiger gods army Hushenyin- Acads, USSR…China- Ubadian Dynasty..with Surtseyan Surtsey Surter, Azores 3 contential tectinic plates Land of UR 1 2 3 Trumpets. Two Great Powers- Mesopotamian and Egyptian. I was catnapped, used to developed jesus, 2 nd coming, superstar possibly in form of Hu Lun the King. Also utilized to counter with..Rama…Review of access codes, ref. UAE producing new result in arab unity to israel after bada boom. -this form of what produced Soviet Tiger Power, the other was based upon the secondary catnapped to that, this was already to go, after bada boom, it became applicable.
  • Dwight Clark
    commented 2020-09-02 13:27:24 -0400
    Greetings Professor Wolff and Associates, Ive been further working on getting your 20 billion request for Inst to study…virus..from Bezos. Earthquake battling Zeus, Island Triangle…Bermuda..Bezos Amazon is ext of Wonder Woman Island Bermuda into Amazon Afflluence of Las Californias. A attempted swap out from limitation to that of Great Wealth. The Spanish were told stories of Las Californias..Closest place to heaven on the planet, Horses with bridals of Gold..Bezos goes back to bermuda triangle, his encroachment over with. Earthquake Son of The Titan..battled Zeus finally sucked into island triangle. Mother Aset taking priority over Gods Titans This maybe easily done. Im attempting…Siberian Tiger, Hu Lin the King of the North, Rama a Sun in the Nightime denying tiger w jesus, second coming, superstar ( corona) both attempted affilliations w
    completion of solar X across country 2024, additional Philistine Continuance..Ref David 3 yrs withholding rain, 7 of Sauls descendents given over, 70, 000 killed w angelic sword…Joab David The Start, the ending 67 Victory Class USS Liberty ( this of 5 Victory, Liberty spy ships operational in 60s) Project flowers.Iran.. Compare 3 military base disasters Russia, Irkust Floodings..The Start then Pompeo with Flowers w India Leader, Losharik rammed? 1989 Komsolets starts leaking radiation- the end, access to additional Philistian Continuance Denied Ark adulatry Clinton Arkansas, Jennifer Lewinsky, Obama -5 names 2 terms cart, Putin Petreaus Broadwell then Allen CIA Petreaus king general…Get the Picture, jesus over with. Mother Aset in expectation, get to work Professor! No d Tigers wolfs. Siberian Tiger, Hu Lin the King of the North, Rama a Sun in the Nightime. This activated after bada boom in Beirut…Study!
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