This is an easy argument for a Marxist to defeat, since from a Marxist perspective, practically any version, any program to address a crisis of capitalism that starts with a war on working class incomes after a half century of austerity is full of shit from the git.
Were we to have lunch, I would say to Larry: "Yes, Larry, there is a risk of inflation. There is also a risk of starvation, of no child care, of unlivable wages, of uncovered pandemic medical and income losses, of police murders every week, of assault on voting rights, of breaking unions, of mass incarceration and addiction,...AND, Larry, I really appreciate, I do, your concern for the impact of inflation on wages.. indeed, I thought this paragraph in your op-ed was a true 'Beauty':
" How much does it matter whether inflation accelerates? In general, increases in inflation disproportionately hurt the poor and are associated with reductions in trust in government. Progressives might consider the role that inflation played in electing Richard M. Nixon in 1968 and Ronald Reagan in 1980. "
Larry -- they 'disproportionately' hurt the poor ---- but they obliterate bank profits! Odd you did not mention that one.The inflation risk is real
-- via my feedly newsfeed