Inflation! Here's why inflation is happening and how to resolve it

In these times of inflation anxiety caused by Covid and now the war between Russia and Ukraine, it's important to stay critical of the narrative being conjured up to blame the average worker or Russia for our current economic crisis. So take a step back from the echo chamber of mainstream media and consider this basic question, what causes inflation ?

Recession is caused by inflation, a buzzword floating around like a curse, the demand and supply drop and prices increase, but not for the abstract reasons mainstream economists sell. The solution is not "all we need to do is bring inflation down", we all know this.

The suspicion corporations are profiting off inflation is a common sentiment, and a valid one too, for reasons that Senior journalist Aunindyo Chakravarty speaks on in a short easy to understand NewsClick video which goes into the causes of inflation, called “How corporates caused inflation” (please watch this video)

Chakravarty argues, “The biggest reason [for inflation] is higher corporate profits, as companies have used the cover of COVID [and shortages caused by the Russia-Ukraine war] disruptions to mark up prices way beyond the rise in costs.”

This is not just an interpretation, we are seeing the consequences of inflation motivated by the drive for profits all around the world. If we understand this is how inflation works then it would sense why in the third world, Bangladeshi students are protesting the record price hike, the Panamanians social movements are driving to leverage their demands to survive the gas and commodity prices; why Ghana and Sri Lanka are mobilizing mass militant actions to stop their governments from making agreements with the IMF. Everywhere workers and struggling communities are organizing to assure their nations do not fall to inflation like Argentina, a victim of IMF loan sharking crushed under western interests and national stagflation. Inflation is a consequence of capitalism being capitalist.

Trust your people, organize together to leverage your demands. The world changes when you intervene through collective action.