Capital undermines economic balance and causes inflation

A joint meeting of the Executive Board (Framkvæmdastjórn) and the Policy Board (Málefnastjórn) of the Socialist Party of Iceland (Sósíalistaflokkur Íslands) points out that corporate profiteering drives inflation. The price of goods and services has risen far beyond justification. Increases are driven by the greed of company owners.Socialists reject the propaganda of the Central Bank and the government that wage increases cause inflation. Wage earners seek wage increases to counteract the erosion of purchasing power due to the inflation that company owners have amplified.If the authorities worked for the general public, their main task would be to promote wage increases so that wage earners can survive in a country where prices are high. The policy of the authorities, the Central Bank, and the government, is, however, to curb wage increases but not price increasesof the companies. And then the authorities exacerbate the public's problems with interest rate hikes to protect the wealth of the rich. This policy reveals for whom the authorities work. Not the general public but capital owners and the owners of oligopolistic companies.In a statement by the SocialistsLet's tackle the roots of corruptionit states, among other things:„One of the most important tasks of politics is therefore to turn the state power away from the path of special interest protection and discrimination and protect the entire society, all the general public, and especially those who are most powerless, receive the least, and own nothing, from the corruption of those in power and special interest groups.Where there is such close proximity between state and municipal authorities and the wealthy, owners and managers of large corporations and their interest groups, as is the case here in this country, there is extremely fertile ground for corruption. And corruption thrives nowhere better than where there are close ties between powerful political parties and politicians and large corporations and their interest groups.“Drafted and approved at a joint meeting of the Executive Board and the Policy Board of the Socialist Party.