controlled inflation

Conservative business people claim that they don't want wage and price controls because they see it as a form of socialism and they want a "free market" instead. But they know goddam well that we haven't had a truly free market for nearly a century and that we already have wage and price controls. The fed controls the prices via ill-controlled inflation, manipulating the money supply in the way criticized by the Austrian School model. By this method, business is assured that prices will continue to slowly rise and deflation will seldom if ever occur, and if circumstance get so bad that deflation cannot be prevented, then the government will step in and divert huge blocks of taxpayer money into the business system to make sure that the value of the business inventories does not drop (as with GM and the banks recently); because inflation benefits business and deflation benefits consumers.

And wages are controlled via the INS, which works to insure that a constant supply of lower level workers enter the US every year so that business can hire them at wages that keep the entire wage system as low as possible by making available to employers not only low cost day laborers, temporary workers, and entry level employees, but also shifting the indigenous worker class up one level (or into unemployment; the choice is theirs) where they can pay them less than they normally would have to; and so on up the wage scales, which leaves all that much more room at the top for huge corporate bonuses to high ranking executives.

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