When the purchasing power of currency goes down, the people with the most currency actually lose the most, meaning the rich. In this way, there is a flattening effect. In cases of hyperinflation, having 3 million dollars is scarcely better than having 300, and money is revealed to be the apparition that it actually has been all along. The negative impacts of being unable to purchase basic goods and services also acutely affect the working class, but in a lot of cases that's already true in a "healthy" economy.
This is the reason the bourgeoisie is always pulling their hair out about it. It's also only ever used as a pretense to do austerity and extract even more wealth from the working class while cutting basic services.
Since value comes from labor instead of markets or scarcity, inflation also literally wouldn't effect our standard of living in a meaningful way at all if we set in place robust mutual aid networks and centers and divide the labor in a more just way.
When the narratives of capitalist realism and market necessity start to erode, this is actually a good thing, and this is the case with inflation as long as we are organized and prepared to exist beyond the market.
how the fuck do you not understand this?
food costs more, therefore i can afford to eat less
no I understand your situation. Food costs more money because money is worth less now. Yet your labor should also cost more money for the same reason. Of course it's the USA so capitalists won't raise wages unless they are literally forced to, but that is their fault. It fucking sucks I'm sorry you're in that situation but blaming inflation for the problem excuses the capitalists.
Inflation is just the price of money and that price is kept artificially high by a variety of capitalist institutions because capitalists hold the more money than anyone else. A socialist state could use higher inflation rates in some very positive ways that would benefit workers the most.
jesus fucking christ, it's like talking to a fucking condescending wall
deleted by creator
thanks. I'm not going to argue with people about their real material conditions like hunger, but the effects of inflation are literally basic economics and are already well known. Inflation hurts economic growth, and capitalists rely on increasing economic growth to survive. If you want to attack the capitalist financial system that dominates and enslaves the world, high inflation is like a stake to the heart of that beast because it directly reduces returns across the board. Yeah sure the capitalists are so rich they will never have to worry about starving, but it's not like poor people weren't starving in America before inflation went up. Declining material conditions cause destabilization and precipitate revolution, which you should be interested in as a communist anyway.
Prices go up
Wage doesn't go up
I can afford less
How the fuck do you not understand that, just cause you managed to get a pay bump doesnt mean everyone else is