The cost-of-living crisis continues to tear through the global economy, inflating the profits of a few while threatening millions more with financial ruin and destitution. As heating, power, and food get more expensive by the day, yet energy companies and multinational corporations continue to rake in record profits, it’s becoming increasingly clear that what we are facing is not a crisis of inflation, but distribution. There’s enough for everyone — it’s just not in the right hands.
In Germany and elsewhere, states have taken proactive measures to cap prices and secure the provision of services as inflation eats away at the public purse. With the market failing to provide in a time of need, more and more people are turning to state-led interventions and public responses based on solidarity. Could this also mean a window of opportunity for democratic socialists?
One year since the Russian invasion of Ukraine sent the crisis into overdrive, our new dossier measures its depth and takes a closer look at successful and not-so-successful policy responses.