Tag: distributive conflict
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Inflation, Prices and Distributive Conflict
A political economy perspective for public debate Introduction Inflation has returned to the centre of public debate in the 2020s. In public discourse it is often described as a technical problem: excessive money creation, supply shocks, or temporary imbalances between demand and production. These explanations are not incorrect, but they are incomplete. They overlook a…
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Inflation and Real Wages in Argentina: Competing Paradigms and Lessons from Stabilization
When prices rise faster than wages, purchasing power falls. This observation, while obvious, does not exhaust the problem. What truly matters is understanding why this dynamic repeats itself systematically in Argentina, even during periods of economic growth or temporary stabilization. Behind the statistics lies a fundamental theoretical dispute: how are wages actually determined in an…