Reply To: Cost of living crisis
Merely going on Marx’s comments in volume three on the monetary theories of both men. Mill, it appears, was deeply suspicious of the pound note. Always rather liked them myself.
Roberts seems to confuse a (temporary?) rise in prices due to ‘the restriction of supply, both in production and transportation’, something that goes on all the time in capitalism, (and which governments have little or no control over) with an annual rise in the general price level due to a government depreciating the currency. Two different things.
The SPGB argument is spot on.