I have been reading an paper, Marxist Political Economy in the Age of Inflation, by Marxist theorist, Vytautas Liutkus. At least in part, the writer seems to offer an explanation for post-World War 2 inflation in the monetary system that is consistent with Marx’s labor theory of value. This is my second post on VL’s paper.
NOTE ON TURNING A BLIND EYE: “…it is commonly accepted that turning a blind eye comes from a comment made by British Admiral Horatio Nelson. In 1801 he led the attack alongside Admiral Sir Hyde Parker in the Battle of Copenhagen. Nelson was blind in one eye. Parker communicated to Nelson at one point, via flags, that he needed to retreat and disengage. Nelson, however, was convinced that he could prevail if they pushed onward. Nelson then, holding the telescope to his blind eye, pretended not to see the signal—making a sly comment to a fellow officer about reserving the right to use his blind eye every now and again.” Source