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Inflation myths only benefit the rich.

by Rick Perlstein, In These Times

“The people cannot be all, and always, well informed,” Thomas Jefferson wrote in a letter in 1787. ​“The part which is wrong will be discontented in proportion to the importance of the facts they misconceive.”

When it comes to the very important subject of inflation, Jefferson couldn’t have been more on the money. Our discontents are largely driven by misconceptions. The American people, for example, have been trained to believe that inflation is Joe Biden’s fault — or maybe even their own fault, triggered because they have too much spending power.

Protesters stand on Whitehall in London to protest for equality in our economy. A placard reads 'Tax the Rich'.

The truth is that inflation is largely due to corporate greed.

Since you read radical media like In These Times, you already know all that. You might even have hope, because you’ve been learning why the mainstream understanding might soon change.

There’s a stereotype, and sometimes it’s even true, that leftists are so wrapped up in ideology that they don’t provide an accurate picture of reality. When it comes to today’s inflation problems, however, the Left has just been saying what’s objectively true, while the establishment sounds like a bunch of loons.

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