Inflation-targeting policy is really rate-of-exploitation targeting.

Evidence

As my mentor Professor Duncan Foley put it, monetary and fiscal policies targeting inflation should really be described as “rate-of-exploitation targeting.” This becomes all the more apparent when we look beyond national policies to the hard-fought battles of the ruling elites to maintain a stable globalized capitalist economy, where capital is free to move unencumbered in search of lower labor costs. — Clara E. Mattei, Escape from Capitalism, 285

As my mentor Professor Duncan Foley put it, monetary and fiscal policies targeting inflation should really be described as “rate-of-exploitation targeting.” This becomes all the more apparent when we look beyond national policies to the hard-fought battles of the ruling elites to maintain a stable globalized capitalist economy, where capital is free to move unencumbered in search of lower labor costs. — Clara E. Mattei, Escape from Capitalism, 285

Categorization

• DEFINE: Foley’s reframing of anti-inflation policy as rate-of-exploitation targeting is a compact conceptual lens for the whole book.
• QUESTION: Worth tracing where Foley develops this argument, and how it formalizes the class-discipline claim into measurable terms.
• corroborated: 2 independent passages support this claim — Clara E. Mattei, Escape from Capitalism: An Intervention, 285; Clara E. Mattei, Escape from Capitalism, 285