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tony curzon price's List: References in reflections on Scruton's "Green Philosophy"

    • inflation can be described as a monetary reflection of distributional conflict between a working class, demanding both employment security and a higher share in their country‚Äôs income, and a capitalist class striving to maximize the return on its capital. As the two sides act on mutually incompatible ideas of what is theirs by right, one emphasizing the entitlements of citizenship and the other those of property and market power, inflation may also be considered an expression of anomie in a society which, for structural reasons, cannot agree on common criteria of social justice. It was in this sense that the British sociologist, John Goldthorpe, suggested in the late 1970s that high inflation was ineradicable in a democratic-capitalist market economy that allowed workers and citizens to correct market outcomes through collective political action.
    • In the end, by calling forth Kaleckian reactions from increasingly suspicious capital owners, inflation will produce unemployment, punishing the very workers whose interests it may initially have served. At this point at the latest, governments under democratic capitalism will come under pressure to cease accommodating redistributive wage settlements and restore monetary discipline.

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