Crisis Point: Cost-of-Living w/ Martijn Konings

As prices keep on rising while wages stagnate, it becomes more and more expensive for ordinary people to afford the basic essentials. Does this inflationary pressure constitute a crisis in capitalism or should we understand it as a normal function of the system? What are the different ways that inflation can be managed and how does this effect who wins and loses? What effect will the shocks of climate change have on prices in the future?Martijn Konings is Professor of Political Economy and Social Theory at the University of Sydney. He joins Chris Saltmarsh and Dillon Wamsley to discuss the resurgence of inflation in the 2020s, the role of central banks and governments in responding to inflation, and how inflation interacts with crisis in capitalism.Crisis Point is a limited series introducing the political economy of capitalist crises, providing historical and theoretical rigour to discourses around crisis in the present.Recommended reading for this episode:1) Montgomerie, 'COVID Keynesianism: locating inequality in the Anglo-American crisis response', Cambridge Journal of Regions, Economy and Society, 16 (2023)2) Weber & Wasner, 'Sellers’ inflation, profits and conflict: why can large firms hike prices in an emergency?', Review of Keynesian Economics, 11 (2023)3) Lindberg & Maier, The Politics of Inflation and Economic Stagnation (Brookings Institution Press, 1985)Works referenced in this episode:Martijn Konings review of Stiglitz on freedomMartijn Konings' book The Bailout State (2024)Isabella Weber on strategic price controlsHyman Minsky on the 1929 crash and Great DepressionThis episode is produced by the SPERI Presents… committee, including Remi Edwards, Chris Saltmarsh, Frank Maracchione, Emma Mahoney, Dillon Wamsley and Andrew Hindmoor. This episode was edited by Chris Saltmarsh and Dillon Wamsley. Music and audio by Andy_Gambino. Hosted on Acast. See https://acast.com/privacy for more information.  Hosted on Acast. See acast.com/privacy for more information.

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'SPERI Presents…' is a podcast taking on the big questions in political economy for scholars, students and publics within and beyond the discipline.We also host 'New Thinking in Political Economy', an ongoing series with monthly episodes. Dr Remi Edwards is joined by authors of new research to explore the motivations behind, contributions and implications of their work for understanding power and politics in the global economy.The first limited series was 'Lessons in Power'. Professor Michael Jacobs and Mems Ayinla interview ministers and advisors from the New Labour administration (1997-2010) to tease out lessons on a range of issues for Keir Starmer’s newly formed Labour government.Coming soon: Crisis Point hosted by Chris Saltmarsh and Dr Dillon Wamsley. Hosted on Acast. See acast.com/privacy for more information.