Melkonian

Would if I could, but we've got the benefit of hindsight and modern computing. Not sure which Marxist economists you are referring to, but if they are reinforcing capitalist economic propositions they should be discarded. The UK could have gone another way during the inflation of the 1970s, but the same old tired nonsense was wheeled out and we got the old Thatcher classic "There is no alternative."

Any serious socialist would not be using capitalist economics and markets to determine prices.

I respect you've spent a lot of time in the shadow realm of modern economics and I understand that finance capital has more ways to punish workers. This, however, is not a refute on Marx's arguments against the so called wage-price spiral. Any wage increase won by the working class is a direct benefit to the working class. Saying otherwise only serves the capitalists and leads to to why the US no longer makes economy cars and affordable housing. Deflation, wage-price spirals, and every other argument as to why wages can't increase and prices can't fall is NOT for the benefit of the working class.

The so-called "wage-price spiral" is bad economics not materialist analysis. It has been used by capitalists to justify not raising wages since Marx's time. Marx literally wrote Wages, Prices, and Profits to refute it and he further elaborates on these ideas in Capital Vol 2. Modern economists carry water for the capitalists in every argument they make. They literally invented neo-classical economics to refute Marx for being CORRECT. If the tea-leaf readers and bone throwers of the capitalist class are telling you its bad, it means its bad for capitalists NOT workers. Surprised to see anyone on here regurgitate capitalist propaganda let alone someone who has so much knowledge of theory.