Cover Art by Tyler Comrie
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Inflation

  • Issue 46
  • Summer 2022
So long as capitalism is not overthrown by the proletarian revolution, it will continue to live in cycles, swinging up and down. Crises and booms were inherent in capitalism at its very birth; they will accompany it to its grave. But to determine capitalism’s age and its general condition — to establish whether it is still developing or whether it has matured or whether it is in decline — one must diagnose the character of the cycles. In much the same manner the state of the human organism can be diagnosed by whether the breathing is regular or spasmodic, deep or superficial, and so on.
— Leon Trotsky, The First Five Years of the Communist International, 1924

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“This is a really terrible way to live. And it’s kind of insane that we force everybody to live in this way.”

Features

Doug Henwood

Yes, You Should Worry About Inflation

For a generation, the Left dismissed any concerns about inflation as elite fearmongering. But now inflation is here. And it’s hurting workers more than anyone.

Galen Herz

The Hidden Costs of Being An American Worker

When it comes to buying stuff online, American workers have it made. But when it comes to “mass services” — transportation, housing, education, health insurance, and childcare — American workers are getting fleeced.

“Everybody needs a raise. Not no 50 cent, not no 20 cent. We need a decade of raises.”

Front Matters

Party Lines

Samir Sonti

Red the Fed

The Federal Reserve’s response to inflation is bad for workers — but it doesn’t need to be.

Struggle Session

“I’m confident it is vital to separate the Soviet Union from Russian imperialism.”

“Even under ideal growing circumstances, the Middle East cannot compensate domestically for the huge amount of imports lost to the war — and the growing circumstances are far from ideal.”

“There were so many alarms ringing, but I didn’t listen, because all I saw was more profit.”

“We walk on eggshells at work knowing they’re just waiting for the chance to discipline us. We have mandatorily watched multiple videos and read multiple letters from corporate that involve anti-union propaganda.”