DESTROY CAPITALISM

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page 6 of the scan

The attitude which the working class has to take to inflation is very clear. There is no way under capitalism in which inflation can be got under serious control without a slump on a scale far greater than that of the 1930s. The task of the working class is not, as Jack Jones and the TUC propose, to help prepare the way for such a slump through passive acceptance that workers must bear the weight of inflation, but instead to prepare the destruction of the insane system of production for profit which creates soaring inflation. This means accepting no responsibility for inflation through participating in incomes policies and other schemes, deman ding the protection of working class living standards against intlation through automatic cost of living increases in wages, and through decisive measures to expropriate the capitalist

page 7 of the scan

ugust 1975 class. It is capitalism not the workers which creates inflation, it is the capitalist class and not the working class which must pay the price for it.

(1) Politics and Money; January-March 1973. (2) Figures for Britain from Glyn and Sutcliffe. Workers and the Profits Squeeze; figures for the United States from Nordhaus The Falling Share of Profits. inflation