[Marxism] Who Said "Debauch the Currency": Keynes or Lenin?

[Marv Gandall]

Within and between classes, lenders are hurt by inflation, borrowers benefit
from it. Inflation has a contradictory effect on the working class. Workers
experience declining real wages, but this is offset to some degree by the
the easing of the debt load which most are forced to carry. Consequently,
working class and farmers' organizations have viewed the expansion of the
money supply, the end of the gold standard, and inflation with equinimity,
quite unlike the banks (the solvent ones) and other "sound money" creditors
who don't want to be repaid in inflation-eroded "debauched" dollars and
other currencies.


----- Original Message ----- 
From: "Michael Perelman" <michael at ecst.csuchico.edu>
To: "Marv Gandall" <marvgandall at videotron.ca>
Sent: Tuesday, June 02, 2009 1:28 PM
Subject: Re: [Marxism] Who Said "Debauch the Currency": Keynes or Lenin?


> Inflation also causes interclass war -- helping industry & hurting the
> bond market.
> -- 
> Michael Perelman
> Economics Department
> California State University
> Chico, CA 95929
>
> Tel. 530-898-5321
> E-Mail michael at ecst.csuchico.edu
> michaelperelman.wordpress.com
>
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