Demystifying Sellers Inflation with Yeva Nersisyan
The American people see through mainstream claims of “the greatest economy ever.” They are confronted by evidence to the contrary every day.Steve and his guest, economist Yeva Nersisyan, take a deep dive into the current US economy, looking at the repercussions of the high costs of education, healthcare, and housing.They discuss different perspectives on the causes of inflation and talk about Isabella Weber’s work on “sellers’ inflation” and its relationship to monopoly power. They argue that the drive for corporate profits, leading to abusive price-setting, has been the primary force behind inflation.They also talk about the effect of fiscal policy on income inequality, revealing politicians’ contempt for the working class.Yeva Nersisyan is an associate professor of economics at Franklin and Marshall College in Lancaster, PA, and a research scholar at the Levy Economics Institute of Bard College.