Inflation is a political class-war flare-up rather than a monetary phenomenon

Evidence

Technofeudalism has an inbuilt tendency to dampen price inflation, as it is in its nature to squeeze wages, prices and profits. But how exactly the Great Inflation will unfold in the short term is impossible to predict accurately because, as we have seen already, inflation is always a symptom of a flare-up of the ongoing class war; its trajectory will be determined primarily by politics and power. And what is certain is that by enhancing the scope of cloud capital, the Great Inflation will ultimately be bad for labour’s political power, as it turns more of us into cloud proles. — Yanis Varoufakis, Technofeudalism, 539

Categorization

• DEEPTHINKING: The claim that inflation is a symptom of class war whose trajectory is set by politics and power, combined with technofeudalism’s dampening tendency, is a dense paradigm-shifting reframe of a concept mainstream economics treats as chiefly monetary.
• corroborated: 2 independent passages support this claim — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 539
• XREF: connects to: Inflation acts as a class-specific tax benefiting debtors over creditors — Mark Blyth, Austerity: The History of a Dangerous…, 46; Monetary inflation was cast as merely a symptom of governmental and worker misbehavior — Clara E. Mattei, The Capital Order: How Economists…, 783; Inflation is a social power contest over bargaining power, not a purely monetary event — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 526 (+6 more)

Broader Connections

• Rising wages reflect monetary conditions rather than union coercion causing inflation #contradicts (0.95) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 976
• Austerity treats citizens’ consumption as the cause of inflation to justify repressing demand #responds-to (0.85) — Clara E. Mattei, Escape from Capitalism, 349
• Austerity economists read inflation as a threat to capitalist subordination #responds-to (0.80) — Clara E. Mattei, The Capital Order, 784
• Conflating class-State with regulated society is a reactionary middle-class error #complicates (0.75)