A01=Costas Lapavitsas
A01=Doug Nicholls
A01=James Meadway
Age Group_Uncategorized
Age Group_Uncategorized
Author_Costas Lapavitsas
Author_Doug Nicholls
Author_James Meadway
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Category1=Non-Fiction
Category=JPFF
Category=KCX
Category=KCY
COP=United Kingdom
cost of living
Delivery_Pre-order
economic crisis
economics
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
eq_non-fiction
eq_society-politics
grace blakeley
inflation
Language_English
PA=Temporarily unavailable
pensions
Price_€10 to €20
profiteering
PS=Active
RCN
real terms pay
RMT
softlaunch
strikes
wages
Product details
- ISBN 9781804293843
- Weight: 74g
- Dimensions: 111 x 178mm
- Publication Date: 07 Mar 2023
- Publisher: Verso Books
- Publication City/Country: GB
- Product Form: Paperback
- Language: English
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We are living through a cost of living crisis, with interest rate hikes and the prices of everyday consumables and energy bills sky-rocketing. Why is this happening? Sometimes we are told that wages are too high, or that the government has "printed" too much money or that events far away, such as the war in Ukraine, are solely to blame. The plain argument that high prices go together with high profits, falling wages, and weak production is often distorted and hidden by mainstream commentary in the media and elsewhere.
This plain-speaking pamphlet tells it straight: the big businesses dominating production and distribution make huge profits out of high inflation, while working people lose out. It sets out factual evidence to illustrate that the source of record profits is the fall in real wages as inflation rises. A large part of the income of working people is being transferred directly into the profits of big business. The pamphlet shows that the deeper roots of the "cost of living crisis" lie in the very low investment and poor productivity growth for many years. The basic steps to resolving the crisis are simple: prices, especially of essentials, must be brought down, and wages, salaries, benefits, and pensions must be increased.
This plain-speaking pamphlet tells it straight: the big businesses dominating production and distribution make huge profits out of high inflation, while working people lose out. It sets out factual evidence to illustrate that the source of record profits is the fall in real wages as inflation rises. A large part of the income of working people is being transferred directly into the profits of big business. The pamphlet shows that the deeper roots of the "cost of living crisis" lie in the very low investment and poor productivity growth for many years. The basic steps to resolving the crisis are simple: prices, especially of essentials, must be brought down, and wages, salaries, benefits, and pensions must be increased.
Costas Lapavitsas is Professor of Economics at the School of Oriental and African Studies and convenor at European Research Network on Social and Economic Policy, and the author of Profiting Without Producing.
James Meadway is Director of the Progressive Economy Forum, and former adviser to the former Shadow Chancellor John McDonnell MP.
Doug Nicholls is General Secretary of the General Federation of Trade Unions.
James Meadway is Director of the Progressive Economy Forum, and former adviser to the former Shadow Chancellor John McDonnell MP.
Doug Nicholls is General Secretary of the General Federation of Trade Unions.
